Nemes Rush Group LLC Purchases New Position in Rubrik, Inc. (NYSE:RBRK)

Nemes Rush Group LLC purchased a new position in Rubrik, Inc. (NYSE:RBRK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 600 shares of the company’s stock, valued at approximately $39,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after acquiring an additional 3,372,323 shares during the period. Norges Bank bought a new position in Rubrik during the 4th quarter valued at about $277,395,000. JPMorgan Chase & Co. raised its position in Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after purchasing an additional 427,149 shares during the period. Point72 Asset Management L.P. bought a new stake in Rubrik in the third quarter worth about $42,247,000. Finally, PointState Capital LP purchased a new position in shares of Rubrik during the third quarter valued at approximately $40,466,000. 49.54% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Arvind Nithrakashyap sold 32,499 shares of Rubrik stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. Insiders have sold a total of 824,635 shares of company stock worth $55,117,349 over the last 90 days.

Rubrik Stock Up 3.3 %

Shares of RBRK opened at $62.44 on Thursday. The company has a 50 day moving average of $68.56 and a two-hundred day moving average of $56.82. The company has a market cap of $11.85 billion and a price-to-earnings ratio of -4.53. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. During the same quarter last year, the business posted ($1.59) EPS. Rubrik’s revenue was up 47.5% compared to the same quarter last year. On average, sell-side analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RBRK. Mizuho raised their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Citigroup lifted their target price on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. KeyCorp cut their price target on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Wedbush upped their target price on shares of Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Finally, BMO Capital Markets boosted their price target on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $70.00.

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.