Rubrik, Inc. (NYSE:RBRK) Stake Increased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 685.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 240,188 shares of the company's stock after purchasing an additional 209,617 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.13% of Rubrik worth $15,700,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the fourth quarter valued at about $28,000. Global Retirement Partners LLC grew its position in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Rubrik during the fourth quarter valued at approximately $39,000. NewEdge Advisors LLC acquired a new position in shares of Rubrik during the fourth quarter worth $62,000. Finally, Rhumbline Advisers purchased a new position in shares of Rubrik in the fourth quarter valued at $64,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

Rubrik Stock Performance

Shares of NYSE:RBRK traded up $1.17 on Monday, hitting $74.50. The company's stock had a trading volume of 3,931,235 shares, compared to its average volume of 1,977,690. The company has a market capitalization of $14.14 billion and a price-to-earnings ratio of -5.41. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $80.00. The stock's 50-day moving average is $63.23 and its two-hundred day moving average is $61.54.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to analysts' expectations of $233.13 million. The firm's quarterly revenue was up 47.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.59) EPS. Equities analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,485 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $74.85, for a total value of $2,431,502.25. Following the completion of the sale, the chief technology officer now directly owns 219,279 shares of the company's stock, valued at approximately $16,413,033.15. This represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $71.44, for a total transaction of $1,786,000.00. Following the completion of the transaction, the executive now directly owns 554,217 shares in the company, valued at $39,593,262.48. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 506,634 shares of company stock valued at $33,523,839.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup upped their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Cantor Fitzgerald restated an "overweight" rating and set a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th. KeyCorp cut their target price on Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Piper Sandler decreased their price target on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Wedbush lifted their price target on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rubrik presently has a consensus rating of "Buy" and an average price target of $68.83.

Rubrik Profile

Rubrik, Inc provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors.