HighTower Advisors LLC Takes Position in Rubrik, Inc. (NYSE:RBRK)

HighTower Advisors LLC acquired a new position in Rubrik, Inc. (NYSE:RBRK) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 22,880 shares of the company’s stock, valued at approximately $1,495,000.

A number of other large investors have also recently added to or reduced their stakes in RBRK. Natixis Advisors LLC raised its holdings in shares of Rubrik by 302.5% during the third quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock valued at $1,713,000 after acquiring an additional 40,036 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Rubrik by 134.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock valued at $10,462,000 after purchasing an additional 186,485 shares during the period. Alpha DNA Investment Management LLC acquired a new stake in Rubrik during the 3rd quarter valued at $411,000. Summit Trail Advisors LLC purchased a new stake in shares of Rubrik in the third quarter valued at $625,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Rubrik in the third quarter worth $25,000. 49.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Yvonne Wassenaar sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total transaction of $210,090.00. Following the completion of the transaction, the director now owns 153 shares in the company, valued at approximately $10,714.59. The trade was a 95.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the completion of the sale, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at $14,229,014.31. The trade was a 50.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,254 shares of company stock valued at $41,195,389 in the last 90 days.

Rubrik Trading Up 8.0 %

NYSE RBRK opened at $73.62 on Tuesday. The company has a 50 day moving average of $68.99 and a 200-day moving average of $55.35. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $80.00. The firm has a market cap of $13.64 billion and a price-to-earnings ratio of -5.34.

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

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.