Rubrik, Inc. (NYSE:RBRK) Position Increased by Arizona State Retirement System

Arizona State Retirement System increased its position in shares of Rubrik, Inc. (NYSE:RBRK) by 24.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 23,664 shares of the company’s stock after buying an additional 4,715 shares during the quarter. Arizona State Retirement System’s holdings in Rubrik were worth $1,443,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in Rubrik during the fourth quarter valued at about $464,000. Raymond James Financial Inc. bought a new position in Rubrik during the fourth quarter valued at about $11,462,000. HighTower Advisors LLC bought a new position in Rubrik during the fourth quarter valued at about $1,495,000. Swiss National Bank raised its holdings in Rubrik by 24.5% during the fourth quarter. Swiss National Bank now owns 128,400 shares of the company’s stock valued at $8,392,000 after buying an additional 25,300 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in Rubrik by 18.9% during the fourth quarter. Natixis Advisors LLC now owns 63,362 shares of the company’s stock valued at $4,141,000 after buying an additional 10,091 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RBRK. Guggenheim raised their target price on Rubrik from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, June 6th. Wall Street Zen upgraded Rubrik from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. KeyCorp reiterated an “overweight” rating and issued a $113.00 price objective (up from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Wells Fargo & Company boosted their price objective on Rubrik from $80.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. Finally, Wedbush boosted their price objective on Rubrik from $80.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.38.

Insider Buying and Selling

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $85.97, for a total value of $2,149,250.00. Following the sale, the executive directly owned 431,052 shares in the company, valued at approximately $37,057,540.44. This represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 3,500 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $87.54, for a total value of $306,390.00. Following the sale, the chief financial officer owned 521,595 shares in the company, valued at approximately $45,660,426.30. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,229,515 shares of company stock worth $109,999,877. Insiders own 32.38% of the company’s stock.

Rubrik Stock Up 1.3%

Shares of RBRK opened at $88.02 on Friday. Rubrik, Inc. has a 12-month low of $28.60 and a 12-month high of $103.00. The firm has a market capitalization of $17.03 billion, a price-to-earnings ratio of -31.10 and a beta of 0.46. The stock’s 50-day moving average price is $89.61 and its 200 day moving average price is $74.81.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. During the same quarter in the prior year, the firm earned ($1.58) earnings per share. The company’s revenue was up 48.7% on a year-over-year basis. Equities research analysts expect that Rubrik, Inc. will post -7.66 EPS 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.