Bank of America Corp DE Increases Stake in Rubrik, Inc. (NYSE:RBRK)

Bank of America Corp DE lifted its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 1,305.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,116,804 shares of the company’s stock after acquiring an additional 1,037,319 shares during the period. Bank of America Corp DE’s holdings in Rubrik were worth $72,994,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Rubrik by 114.1% during the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after buying an additional 3,372,323 shares in the last quarter. Norges Bank bought a new stake in Rubrik in the fourth quarter valued at $277,395,000. FMR LLC lifted its stake in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after buying an additional 2,065,444 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Rubrik by 26.6% during the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock valued at $206,278,000 after purchasing an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Rubrik by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after purchasing an additional 427,149 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. William Blair assumed coverage on Rubrik in a report on Friday, February 7th. They set a “market perform” rating on the stock. Robert W. Baird dropped their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Wells Fargo & Company increased their price objective on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. UBS Group reaffirmed a “buy” rating on shares of Rubrik in a research report on Tuesday, April 29th. Finally, Wedbush increased their price objective on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $68.83.

Insider Activity at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $75.20, for a total transaction of $2,442,796.80. Following the transaction, the chief technology officer now owns 24,375 shares in the company, valued at $1,833,000. The trade was a 57.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the transaction, the director now owns 153 shares in the company, valued at $11,828.43. This trade represents a 94.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 546,117 shares of company stock worth $36,491,888 over the last 90 days.

Rubrik Price Performance

Rubrik stock opened at $78.62 on Tuesday. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00. The firm has a market capitalization of $14.92 billion and a P/E ratio of -5.71. The stock has a fifty day moving average price of $64.75 and a two-hundred day moving average price of $63.11.

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

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.