Hsbc Holdings PLC Purchases Shares of 29,100 Rubrik, Inc. (NYSE:RBRK)

Hsbc Holdings PLC purchased a new stake in Rubrik, Inc. (NYSE:RBRK) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 29,100 shares of the company’s stock, valued at approximately $1,927,000.

Several other large investors have also recently bought and sold shares of RBRK. Russell Investments Group Ltd. bought a new position in Rubrik in the 4th quarter valued at about $28,000. Global Retirement Partners LLC raised its holdings in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Nemes Rush Group LLC bought a new position in Rubrik in the 4th quarter valued at about $39,000. NewEdge Advisors LLC acquired a new position in shares of Rubrik during the 4th quarter worth approximately $62,000. Finally, Rhumbline Advisers acquired a new position in shares of Rubrik during the 4th quarter worth approximately $64,000. 49.54% of the stock is owned by institutional investors.

Rubrik Stock Performance

RBRK opened at $71.18 on Friday. The firm has a market cap of $13.51 billion and a P/E ratio of -5.17. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The firm has a 50-day moving average of $63.05 and a 200 day moving average of $60.99.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.59) earnings per share. Equities research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,485 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $70.85, for a total value of $2,301,562.25. Following the sale, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at $15,535,917.15. This trade represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total transaction of $832,154.74. Following the transaction, the insider now owns 21,221 shares in the company, valued at $1,336,498.58. The trade was a 38.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 515,619 shares of company stock valued at $34,167,897 over the last three months.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RBRK. Piper Sandler decreased their target price on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets increased their target price on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Wells Fargo & Company increased their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. UBS Group restated a “buy” rating on shares of Rubrik in a research report on Tuesday. Finally, William Blair started coverage on shares of Rubrik in a research report on Friday, February 7th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $68.83.

Rubrik Company 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.