LGT Fund Management Co Ltd. Acquires New Position in Rubrik, Inc. $RBRK

LGT Fund Management Co Ltd. acquired a new stake in Rubrik, Inc. (NYSE:RBRK) during the 3rd quarter, HoldingsChannel reports. The firm acquired 41,500 shares of the company’s stock, valued at approximately $3,421,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank increased its stake in shares of Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company’s stock worth $36,000 after acquiring an additional 395 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Rubrik by 231.3% during the first quarter. Royal Bank of Canada now owns 29,320 shares of the company’s stock worth $1,789,000 after acquiring an additional 20,471 shares in the last quarter. NewEdge Advisors LLC boosted its position in Rubrik by 31.6% during the first quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock valued at $76,000 after purchasing an additional 300 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Rubrik by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company’s stock valued at $57,343,000 after purchasing an additional 236,181 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Rubrik by 204.1% in the first quarter. Rhumbline Advisers now owns 2,980 shares of the company’s stock valued at $182,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RBRK shares. Mizuho dropped their target price on Rubrik from $97.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Barclays lowered their price target on Rubrik from $100.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. DA Davidson initiated coverage on Rubrik in a report on Monday, February 23rd. They issued a “buy” rating and a $65.00 price objective on the stock. Roth Mkm reaffirmed a “buy” rating on shares of Rubrik in a research report on Friday, December 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rubrik in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rubrik currently has an average rating of “Moderate Buy” and an average target price of $101.05.

Insider Buying and Selling

In other news, CFO Kiran Kumar Choudary sold 20,000 shares of Rubrik stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $54.17, for a total value of $1,083,400.00. Following the transaction, the chief financial officer owned 474,959 shares of the company’s stock, valued at $25,728,529.03. This trade represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian K. Mccarthy sold 10,000 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $70.88, for a total transaction of $708,800.00. Following the completion of the sale, the insider owned 330,772 shares of the company’s stock, valued at $23,445,119.36. The trade was a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 261,378 shares of company stock worth $19,381,131 over the last ninety days. Company insiders own 32.38% of the company’s stock.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $57.36 on Monday. The stock has a market capitalization of $11.48 billion, a P/E ratio of -29.42 and a beta of 0.46. The business has a 50-day moving average of $61.25 and a two-hundred day moving average of $72.75. Rubrik, Inc. has a fifty-two week low of $46.36 and a fifty-two week high of $103.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. The company had revenue of $350.17 million for the quarter, compared to analyst estimates of $320.19 million. During the same period in the prior year, the company posted ($0.21) EPS. The business’s revenue was up 48.3% on a year-over-year basis. As a group, research analysts expect that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).