Victory Capital Management Inc. Takes $464,000 Position in Rubrik, Inc. (NYSE:RBRK)

Victory Capital Management Inc. acquired a new stake in Rubrik, Inc. (NYSE:RBRK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,096 shares of the company’s stock, valued at approximately $464,000.

Several other hedge funds also recently modified their holdings of RBRK. Global Retirement Partners LLC lifted its position in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the period. Brown Brothers Harriman & Co. bought a new position in Rubrik in the third quarter worth $25,000. Rhumbline Advisers bought a new position in Rubrik in the fourth quarter worth $64,000. Geneos Wealth Management Inc. bought a new position in Rubrik in the fourth quarter worth $70,000. Finally, KBC Group NV bought a new position in Rubrik in the third quarter worth $72,000. 49.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Rubrik news, Director Yvonne Wassenaar sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $70.03, for a total transaction of $210,090.00. Following the transaction, the director now owns 153 shares in the company, valued at approximately $10,714.59. This trade represents a 95.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total value of $2,000,689.56. Following the transaction, the chief technology officer now owns 219,279 shares in the company, valued at $13,505,393.61. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,254 shares of company stock worth $41,195,389.

Rubrik Stock Down 2.9 %

Shares of RBRK stock opened at $68.15 on Friday. The stock has a 50-day moving average price of $68.82 and a 200 day moving average price of $54.90. The firm has a market cap of $12.62 billion and a price-to-earnings ratio of -4.95. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $80.00.

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

Analyst Ratings Changes

Several brokerages recently commented on RBRK. Mizuho raised their target price on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. KeyCorp reduced their target price on Rubrik from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Piper Sandler increased their price objective on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. William Blair began coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Finally, Wedbush increased their price objective on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Rubrik has a consensus rating of “Buy” and a consensus target price of $70.00.

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.