State of Tennessee Department of Treasury Sells 126,761 Shares of Rubrik, Inc. (NYSE:RBRK)

State of Tennessee Department of Treasury cut its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 81.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,540 shares of the company's stock after selling 126,761 shares during the quarter. State of Tennessee Department of Treasury's holdings in Rubrik were worth $1,931,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC raised its position in shares of Rubrik by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company's stock valued at $683,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Rubrik during the fourth quarter worth about $28,000. KBC Group NV grew its stake in Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company's stock worth $175,000 after buying an additional 430 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after buying an additional 500 shares during the period. Finally, Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter valued at approximately $39,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RBRK shares. Wells Fargo & Company boosted their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Wedbush boosted their price objective on Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Robert W. Baird dropped their target price on Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. William Blair initiated coverage on Rubrik in a report on Friday, February 7th. They set a "market perform" rating on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $85.00 price objective on shares of Rubrik in a report on Friday, March 14th. Two equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $68.83.

Rubrik Price Performance

Shares of NYSE:RBRK traded up $2.21 on Friday, hitting $73.32. The company's stock had a trading volume of 2,331,743 shares, compared to its average volume of 1,961,752. The company has a 50-day simple moving average of $63.05 and a 200 day simple moving average of $60.99. The company has a market capitalization of $13.91 billion and a PE ratio of -5.32. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) EPS 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 analyst estimates of $233.13 million. During the same quarter in the prior year, the firm earned ($1.59) EPS. Rubrik's revenue was up 47.5% on a year-over-year basis. On average, equities research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Activity

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the completion of the transaction, the director now directly owns 153 shares of the company's stock, valued at approximately $11,828.43. The trade was a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the company's stock in a transaction on 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 transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $16,413,033.15. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 573,128 shares of company stock valued at $38,238,360.

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.