JPMorgan Chase & Co. Boosts Stake in Rubrik, Inc. (NYSE:RBRK)

JPMorgan Chase & Co. increased its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,979,184 shares of the company’s stock after buying an additional 427,149 shares during the quarter. JPMorgan Chase & Co. owned about 1.07% of Rubrik worth $129,359,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RBRK. Global Retirement Partners LLC grew its stake in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Rubrik in the fourth quarter worth about $64,000. Geneos Wealth Management Inc. acquired a new stake in shares of Rubrik during the fourth quarter worth about $70,000. KBC Group NV boosted its position in Rubrik by 19.1% in the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after buying an additional 430 shares during the last quarter. Finally, Shikiar Asset Management Inc. acquired a new position in Rubrik in the 4th quarter worth approximately $203,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $60.22, for a total transaction of $1,505,500.00. Following the transaction, the executive now directly owns 579,217 shares of the company’s stock, valued at $34,880,447.74. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares of the company’s stock, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 817,426 shares of company stock worth $54,693,394.

Rubrik Price Performance

Shares of Rubrik stock opened at $60.43 on Wednesday. The stock has a market capitalization of $11.47 billion and a P/E ratio of -4.39. The business has a 50 day simple moving average of $68.74 and a two-hundred day simple moving average of $56.78. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $80.00.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS 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 period in the prior year, the company posted ($1.59) earnings per share. The business’s revenue was up 47.5% compared to the same quarter last year. As a group, research analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup upped their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Robert W. Baird cut their price target on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Guggenheim lifted their price objective on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Rubrik in a research note on Friday, March 14th. Finally, KeyCorp reduced their price target on Rubrik from $87.00 to $82.00 and set an “overweight” rating for the company in a research 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.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $70.00.

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.