Rubrik, Inc. (NYSE:RBRK) Shares Bought by PointState Capital LP

PointState Capital LP increased its holdings in Rubrik, Inc. (NYSE:RBRK - Free Report) by 21.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,523,808 shares of the company's stock after acquiring an additional 265,152 shares during the quarter. Rubrik makes up 1.8% of PointState Capital LP's portfolio, making the stock its 20th biggest position. PointState Capital LP owned 0.82% of Rubrik worth $99,596,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Rubrik during the fourth quarter valued at approximately $277,395,000. Vanguard Group Inc. grew its holdings in 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 buying an additional 3,372,323 shares in the last quarter. FMR LLC grew its holdings in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after buying an additional 2,065,444 shares in the last quarter. Bank of America Corp DE boosted its stake in Rubrik by 1,305.1% during the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock valued at $72,994,000 after purchasing an additional 1,037,319 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Rubrik during the 4th quarter valued at $64,530,000. Institutional investors and hedge funds own 49.54% of the company's stock.

Insider Activity at Rubrik

In other news, CFO Kiran Kumar Choudary sold 87,971 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the transaction, the chief financial officer now owns 413,458 shares of the company's stock, valued at $28,958,598.32. The trade was a 17.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.77, for a total transaction of $2,071,568.45. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares of the company's stock, valued at $13,983,421.83. This trade represents a 12.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 546,117 shares of company stock valued at $36,491,888 over the last quarter.

Wall Street Analyst Weigh In

RBRK has been the subject of a number of recent research reports. Guggenheim increased their price objective on Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Wedbush increased their price objective on Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 price objective on shares of Rubrik in a report on Friday, March 14th. KeyCorp lowered their target price on shares of Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rubrik currently has a consensus rating of "Buy" and an average target price of $68.83.

Rubrik Trading Up 1.2%

NYSE:RBRK opened at $84.10 on Thursday. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $84.65. The firm has a 50 day moving average of $65.77 and a 200-day moving average of $63.39. The stock has a market capitalization of $15.96 billion and a P/E ratio of -6.10.

Rubrik (NYSE:RBRK - Get Free Report) last posted 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 firm had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The company's revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.59) EPS. As a group, analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

About Rubrik

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.

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