Washington Harbour Partners LP Takes $4.24 Million Position in Rubrik, Inc. (NYSE:RBRK)

Washington Harbour Partners LP purchased a new position in shares of Rubrik, Inc. (NYSE:RBRK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 64,800 shares of the company’s stock, valued at approximately $4,235,000. Rubrik comprises approximately 7.9% of Washington Harbour Partners LP’s holdings, making the stock its biggest position.

A number of other institutional investors have also modified their holdings of RBRK. Norges Bank purchased a new stake in shares of Rubrik in the fourth quarter valued at approximately $277,395,000. Vanguard Group Inc. boosted its position in shares of Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. FMR LLC grew its stake in shares of Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the period. Bank of America Corp DE increased its holdings in shares of Rubrik by 1,305.1% in the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock valued at $72,994,000 after purchasing an additional 1,037,319 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Rubrik in the fourth quarter valued at about $64,530,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Price Performance

Rubrik stock opened at $86.62 on Tuesday. The company has a market cap of $16.44 billion and a price-to-earnings ratio of -6.29. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $87.50. The stock’s 50-day moving average is $67.66 and its 200-day moving average is $64.62.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $233.13 million. During the same quarter last year, the firm earned ($1.59) EPS. The business’s revenue for the quarter was up 47.5% compared to the same quarter last year. Research analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current year.

Wall Street Analyst Weigh In

RBRK has been the topic of a number of research reports. Roth Capital initiated coverage on Rubrik in a report on Thursday, May 15th. They issued a “buy” rating and a $97.00 price target on the stock. UBS Group restated a “buy” rating on shares of Rubrik in a research report on Tuesday, April 29th. Guggenheim lifted their price target on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Wells Fargo & Company increased their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, William Blair started coverage on shares of Rubrik in a research report on Friday, February 7th. They set a “market perform” rating for the company. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $71.05.

Insider Activity at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,485 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $63.77, for a total value of $2,071,568.45. Following the completion of the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $13,983,421.83. This trade represents a 12.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Wendell Thompson sold 9,009 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $63.18, for a total transaction of $569,188.62. Following the transaction, the director now directly owns 998 shares in the company, valued at approximately $63,053.64. The trade was a 90.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 592,117 shares of company stock worth $40,192,998.

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.