Federated Hermes Inc. Has $99.15 Million Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

Federated Hermes Inc. boosted its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,516,991 shares of the company’s stock after purchasing an additional 367,491 shares during the period. Federated Hermes Inc. owned about 0.82% of Rubrik worth $99,151,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of Rubrik during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC lifted its holdings in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Nemes Rush Group LLC bought a new position in shares of Rubrik during the fourth quarter valued at $39,000. Rhumbline Advisers acquired a new stake in shares of Rubrik in the 4th quarter valued at $64,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Rubrik in the 4th quarter worth about $70,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 87,971 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the transaction, the chief financial officer now directly owns 413,458 shares of the company’s stock, valued at approximately $28,958,598.32. The trade was a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $63.46, for a total value of $2,061,498.10. The disclosure for this sale can be found here. Insiders have sold 767,136 shares of company stock worth $51,241,967 in the last ninety days.

Rubrik Stock Performance

Shares of Rubrik stock opened at $51.77 on Monday. The firm has a fifty day moving average of $67.92 and a two-hundred day moving average of $57.32. The stock has a market capitalization of $9.82 billion and a price-to-earnings ratio of -3.76. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week 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 analyst estimates of $233.13 million. During the same period in the previous year, the business posted ($1.59) earnings per share. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. As a group, research analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RBRK. Guggenheim boosted their price target on shares of Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. KeyCorp decreased their price target on Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Rubrik in a report on Friday, March 14th. Piper Sandler boosted 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. Finally, Wells Fargo & Company raised their target price on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik has a consensus rating of “Buy” and an average 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.