EFG Asset Management North America Corp. Purchases 33,047 Shares of Rubrik, Inc. (NYSE:RBRK)

EFG Asset Management North America Corp. boosted its position in Rubrik, Inc. (NYSE:RBRK) by 101.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 65,617 shares of the company’s stock after purchasing an additional 33,047 shares during the period. EFG Asset Management North America Corp.’s holdings in Rubrik were worth $4,293,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RBRK. Wealthcare Advisory Partners LLC boosted its stake in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after buying an additional 300 shares during the last quarter. KBC Group NV lifted its holdings in Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after acquiring an additional 430 shares during the period. Global Retirement Partners LLC boosted 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 last quarter. Brown Brothers Harriman & Co. bought a new position in Rubrik in the 3rd quarter valued at $25,000. Finally, Hamilton Lane Advisors LLC increased its position in shares of Rubrik by 3.0% during the 4th quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock valued at $2,224,000 after purchasing an additional 980 shares during the last quarter. 49.54% of the stock is owned by institutional investors.

Rubrik Trading Up 8.0 %

Rubrik stock opened at $73.62 on Tuesday. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $80.00. The firm has a market capitalization of $13.64 billion and a PE ratio of -5.34. The firm’s 50 day simple moving average is $68.99 and its 200 day simple moving average is $55.35.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. The business’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.59) earnings per share. Research analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares of the company’s stock, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the completion of the transaction, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $13,505,393.61. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,254 shares of company stock worth $41,195,389 in the last ninety days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBRK. William Blair initiated coverage on shares of Rubrik in a research report on Friday, February 7th. They set a “market perform” rating for the company. KeyCorp reduced their target price on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Rosenblatt Securities upgraded shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Wednesday, March 12th. Mizuho upped their price objective on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, Guggenheim raised their target price on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $70.00.

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.