Occudo Quantitative Strategies LP Makes New $1.31 Million Investment in Rubrik, Inc. (NYSE:RBRK)

Occudo Quantitative Strategies LP acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK) in the 4th quarter, Holdings Channel reports. The fund acquired 20,000 shares of the company’s stock, valued at approximately $1,307,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Rubrik by 114.1% in the 4th 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 during the period. Norges Bank acquired a new stake in shares of Rubrik in the fourth quarter worth $277,395,000. FMR LLC increased its stake in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after acquiring an additional 2,065,444 shares during the period. First Trust Advisors LP raised its holdings 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 worth $206,278,000 after purchasing an additional 662,914 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in 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 during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on RBRK shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Rubrik in a report on Friday, March 14th. Piper Sandler decreased their price objective on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. 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. BMO Capital Markets lifted their price target on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Finally, Wedbush boosted their price target on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $68.83.

Insider Buying and Selling

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $75.20, for a total value of $2,442,796.80. Following the completion of the transaction, the chief technology officer now directly owns 24,375 shares of the company’s stock, valued at approximately $1,833,000. This represents a 57.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 2,000 shares of Rubrik stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $62.03, for a total transaction of $124,060.00. Following the sale, the chief financial officer now directly owns 614,798 shares in the company, valued at approximately $38,135,919.94. This trade represents a 0.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 546,117 shares of company stock worth $36,491,888 in the last 90 days.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $83.07 on Wednesday. The business’s 50 day moving average price is $65.24 and its 200-day moving average price is $63.24. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $84.47. The firm has a market capitalization of $15.76 billion and a price-to-earnings ratio of -6.03.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. During the same period in the previous year, the company earned ($1.59) EPS. The business’s revenue for the quarter was up 47.5% compared to the same quarter last year. On average, sell-side analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Rubrik Company 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.