Clearbridge Investments LLC Sells 2,487 Shares of Rubrik, Inc. (NYSE:RBRK)

Clearbridge Investments LLC cut its position in shares of Rubrik, Inc. (NYSE:RBRK) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,173,215 shares of the company’s stock after selling 2,487 shares during the period. Clearbridge Investments LLC owned about 0.63% of Rubrik worth $76,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in RBRK. Global Retirement Partners LLC raised its holdings in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Rhumbline Advisers purchased a new position in Rubrik during the 4th quarter valued at about $64,000. Geneos Wealth Management Inc. purchased a new position in Rubrik during the 4th quarter valued at about $70,000. KBC Group NV raised its holdings 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 purchasing an additional 430 shares in the last quarter. Finally, Shikiar Asset Management Inc. purchased a new stake in shares of Rubrik in the 4th quarter worth approximately $203,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Wedbush lifted their price target on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Truist Financial upped their price objective on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Mizuho lifted their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $70.00.

Insider Activity

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $67.06, for a total value of $1,676,500.00. Following the completion of the transaction, the executive now directly owns 321,560 shares of the company’s stock, valued at approximately $21,563,813.60. The trade was a 7.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the sale, the chief technology officer now owns 219,279 shares in the company, valued at approximately $14,229,014.31. This represents a 50.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 792,426 shares of company stock valued at $53,187,894 in the last ninety days.

Rubrik Price Performance

Shares of RBRK stock opened at $60.96 on Tuesday. The business has a fifty day moving average of $68.95 and a 200 day moving average of $56.57. The firm has a market capitalization of $11.29 billion and a price-to-earnings ratio of -4.42. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

Rubrik (NYSE:RBRK) last released its 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 company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. During the same period last year, the business earned ($1.59) earnings per share. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. As a group, equities research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current 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.