Fmr LLC Increases Stock Position in Rubrik, Inc. (NYSE:RBRK)

FMR LLC raised its position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 172.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,261,925 shares of the company's stock after purchasing an additional 2,065,444 shares during the period. FMR LLC owned about 1.76% of Rubrik worth $213,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. Norges Bank purchased a new position in Rubrik in the 4th quarter worth $277,395,000. JPMorgan Chase & Co. lifted its position in Rubrik by 27.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock worth $129,359,000 after acquiring an additional 427,149 shares during the period. Federated Hermes Inc. increased its holdings in shares of Rubrik by 32.0% in the fourth quarter. Federated Hermes Inc. now owns 1,516,991 shares of the company's stock valued at $99,151,000 after purchasing an additional 367,491 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Rubrik by 26.5% during the 4th quarter. Geode Capital Management LLC now owns 719,456 shares of the company's stock valued at $47,048,000 after acquiring an additional 150,810 shares during the period. Institutional investors own 49.54% of the company's stock.

Insider Buying and Selling

In related news, Director John Wendell Thompson sold 9,009 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $60.19, for a total value of $542,251.71. Following the completion of the sale, the director now directly owns 998 shares of the company's stock, valued at $60,069.62. The trade was a 90.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the completion of the transaction, the chief technology officer now owns 186,795 shares of the company's stock, valued at $9,720,811.80. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 500,406 shares of company stock worth $33,211,682.

Rubrik Stock Performance

RBRK stock traded down $0.15 during mid-day trading on Wednesday, reaching $63.16. The company had a trading volume of 311,713 shares, compared to its average volume of 2,406,774. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The company has a market capitalization of $11.99 billion and a price-to-earnings ratio of -4.58. The firm has a fifty day simple moving average of $65.15 and a 200 day simple moving average of $58.57.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly 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 the consensus estimate of $233.13 million. During the same period in the prior year, the company earned ($1.59) EPS. The firm's revenue was up 47.5% compared to the same quarter last year. As a group, analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RBRK. Guggenheim lifted their price target on Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Cantor Fitzgerald restated an "overweight" rating and set a $85.00 price target on shares of Rubrik in a research report on Friday, March 14th. BMO Capital Markets raised their price target on shares of Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Mizuho upped their price objective on shares of Rubrik from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Finally, William Blair started coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a "market perform" rating on the stock. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $69.17.

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.