The Manufacturers Life Insurance Company Acquires 4,303 Shares of Rubrik, Inc. (NYSE:RBRK)

The Manufacturers Life Insurance Company boosted its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 52.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,535 shares of the company's stock after buying an additional 4,303 shares during the period. The Manufacturers Life Insurance Company's holdings in Rubrik were worth $819,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Rubrik in the 4th quarter valued at $277,395,000. Vanguard Group Inc. lifted its holdings in shares of Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. FMR LLC lifted its stake in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after acquiring an additional 2,065,444 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Rubrik during the 4th quarter worth approximately $64,530,000. Finally, First Trust Advisors LP grew its holdings in Rubrik by 26.6% in the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock valued at $206,278,000 after buying an additional 662,914 shares in the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Stock Performance

RBRK stock traded up $0.64 during trading on Monday, hitting $85.95. 1,224,477 shares of the company traded hands, compared to its average volume of 2,034,720. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $87.50. The company has a 50-day moving average of $67.07 and a 200-day moving average of $64.30. The firm has a market capitalization of $16.31 billion and a PE ratio of -6.24.

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 the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to analysts' expectations of $233.13 million. The business's quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.59) earnings per share. Sell-side analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Activity

In other Rubrik news, CFO Kiran Kumar Choudary sold 2,000 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $62.03, for a total transaction of $124,060.00. Following the completion of the sale, the chief financial officer now directly owns 614,798 shares in the company, valued at $38,135,919.94. The trade was a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 153 shares in the company, valued at approximately $11,828.43. The trade was a 94.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 594,617 shares of company stock worth $40,386,273 over the last three months.

Analyst Ratings Changes

Several research firms have recently issued reports on RBRK. Piper Sandler reduced their target price on Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Guggenheim raised their target price on Rubrik from $76.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Wells Fargo & Company raised their price objective on Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Wedbush lifted their target price on Rubrik from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Finally, Cantor Fitzgerald lifted their target price on Rubrik from $85.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Rubrik has an average rating of "Buy" and an average price target of $71.05.

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.