The Manufacturers Life Insurance Company Grows Position in Rubrik, Inc. (NYSE:RBRK)

The Manufacturers Life Insurance Company raised its position in Rubrik, Inc. (NYSE:RBRK) by 52.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,535 shares of the company’s stock after buying an additional 4,303 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Rubrik were worth $819,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Rubrik in the 4th quarter worth about $48,000. Mission Creek Capital Partners Inc. purchased a new position in shares of Rubrik in the 4th quarter worth about $1,723,000. Nebula Research & Development LLC purchased a new position in shares of Rubrik in the 4th quarter worth about $479,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Rubrik by 685.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 240,188 shares of the company’s stock worth $15,700,000 after purchasing an additional 209,617 shares during the period. Finally, Quantessence Capital LLC purchased a new position in shares of Rubrik in the 4th quarter worth about $795,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RBRK shares. BMO Capital Markets increased their target price on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. KeyCorp lowered their target price on Rubrik from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Rubrik in a research note on Friday, March 14th. Robert W. Baird lowered their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Finally, UBS Group reiterated a “buy” rating on shares of Rubrik in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned 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 $68.83.

Insider Transactions at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.04, for a total value of $1,690,467.36. Following the completion of the transaction, the chief technology officer now owns 186,795 shares in the company, valued at approximately $9,720,811.80. This trade represents a 14.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total value of $193,275.00. Following the completion of the transaction, the director now owns 153 shares of the company’s stock, valued at approximately $11,828.43. The trade was a 94.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 546,117 shares of company stock worth $36,491,888.

Rubrik Stock Up 1.2%

Shares of NYSE RBRK opened at $84.10 on Thursday. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $84.65. The business has a 50 day moving average price of $65.77 and a two-hundred day moving average price of $63.39. The firm has a market cap of $15.96 billion and a PE ratio of -6.10.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data 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 business had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. During the same period in the previous year, the business posted ($1.59) EPS. The firm’s quarterly revenue was up 47.5% compared to the same quarter last year. On average, analysts anticipate 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.