Register Financial Advisors LLC Lowers Stock Position in Rubrik, Inc. (NYSE:RBRK)

Register Financial Advisors LLC trimmed its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 4.1% in the first quarter, Holdings Channel reports. The firm owned 7,100 shares of the company’s stock after selling 300 shares during the period. Register Financial Advisors LLC’s holdings in Rubrik were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RBRK. Norges Bank purchased a new stake in Rubrik during the 4th quarter worth $277,395,000. Vanguard Group Inc. boosted its position in 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 during the period. FMR LLC boosted its position in 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. Voloridge Investment Management LLC purchased a new stake in Rubrik during the 4th quarter worth $85,331,000. Finally, Bank of America Corp DE boosted its position in Rubrik by 1,305.1% during the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock worth $72,994,000 after purchasing an additional 1,037,319 shares during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rubrik news, CFO Kiran Kumar Choudary sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total value of $124,060.00. Following the completion of the transaction, the chief financial officer now owns 614,798 shares in the company, valued at approximately $38,135,919.94. This represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique T. Salem sold 700,000 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $91.09, for a total transaction of $63,763,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,244,804 shares of company stock worth $107,800,803 over the last quarter. 32.38% of the stock is owned by company insiders.

Rubrik Stock Down 1.6%

RBRK opened at $85.76 on Friday. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of -30.30 and a beta of 0.87. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $103.00. The company’s 50-day moving average price is $81.71 and its 200 day moving average price is $71.96.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to analyst estimates of $260.39 million. Rubrik’s revenue was up 48.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.58) EPS. Research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analyst Ratings Changes

RBRK has been the subject of a number of research reports. Wedbush upped their price target on shares of Rubrik from $80.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. UBS Group reissued a “buy” rating on shares of Rubrik in a research report on Friday, June 6th. Oppenheimer reissued a “market perform” rating on shares of Rubrik in a research report on Friday, June 6th. BMO Capital Markets reissued an “outperform” rating and issued a $110.00 price objective (up from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Finally, Piper Sandler decreased their price objective on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rubrik has a consensus rating of “Moderate Buy” and an average target price of $100.38.

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.