Trek Financial LLC Buys Shares of 38,094 Rubrik, Inc. (NYSE:RBRK)

Trek Financial LLC purchased a new position in shares of Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 38,094 shares of the company’s stock, valued at approximately $2,490,000.

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

Rubrik Trading Down 9.9 %

Shares of RBRK opened at $51.77 on Monday. The stock has a 50 day simple moving average of $67.92 and a 200-day simple moving average of $57.32. The stock has a market cap of $9.82 billion and a PE ratio of -3.76. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

Rubrik (NYSE:RBRK) last announced 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 company had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same period in the prior year, the business earned ($1.59) EPS. The firm’s quarterly revenue was up 47.5% compared to the same quarter last year. On average, sell-side analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on RBRK. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Rubrik in a research report on Friday, March 14th. Mizuho boosted their target price on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. KeyCorp lowered their price target on Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Citigroup boosted their price objective on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Rosenblatt Securities raised Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $70.00.

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, the director now owns 153 shares in the company, valued at $10,342.80. This represents a 94.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $62.60, for a total transaction of $112,680.00. Following the sale, the chief financial officer now directly owns 342,174 shares of the company’s stock, valued at $21,420,092.40. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 767,136 shares of company stock worth $51,241,967 in the last quarter.

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.