Quantessence Capital LLC Makes New Investment in Rubrik, Inc. (NYSE:RBRK)

Quantessence Capital LLC bought a new position in Rubrik, Inc. (NYSE:RBRK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,171 shares of the company's stock, valued at approximately $795,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Capital LLC lifted its holdings in Rubrik by 21.2% in the fourth quarter. Renaissance Capital LLC now owns 72,775 shares of the company's stock valued at $4,757,000 after acquiring an additional 12,714 shares during the period. FMR LLC lifted its stake in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after purchasing an additional 2,065,444 shares during the period. US Bancorp DE boosted its holdings in Rubrik by 1,329.9% during the fourth quarter. US Bancorp DE now owns 19,547 shares of the company's stock worth $1,278,000 after buying an additional 18,180 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Rubrik during the fourth quarter worth about $11,462,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Rubrik by 434.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 335,238 shares of the company's stock worth $21,911,000 after buying an additional 272,482 shares during the period. Hedge funds and other institutional investors own 49.54% of the company's stock.

Rubrik Stock Performance

Rubrik stock traded up $1.57 during midday trading on Friday, reaching $69.78. The stock had a trading volume of 1,544,993 shares, compared to its average volume of 1,992,823. The stock has a market capitalization of $13.24 billion and a PE ratio of -5.06. The stock's 50-day simple moving average is $63.07 and its 200 day simple moving average is $60.11. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00.

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

Insider Activity at Rubrik

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.94, for a total transaction of $1,773,500.00. Following the completion of the sale, the executive now directly owns 381,043 shares of the company's stock, valued at approximately $27,031,190.42. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the completion of the transaction, the chief technology officer now owns 219,279 shares in the company, valued at $16,413,033.15. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 515,619 shares of company stock worth $34,167,897.

Analysts Set New Price Targets

RBRK has been the topic of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 price target on shares of Rubrik in a research note on Friday, March 14th. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, January 17th. Piper Sandler cut their price target on Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wedbush boosted their price objective on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Finally, Robert W. Baird dropped their target price on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $68.83.

Rubrik Company 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.