Seven Grand Managers LLC Decreases Stock Holdings in Rubrik, Inc. (NYSE:RBRK)

Seven Grand Managers LLC reduced its position in shares of Rubrik, Inc. (NYSE:RBRK) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,000 shares of the company’s stock after selling 25,000 shares during the period. Seven Grand Managers LLC’s holdings in Rubrik were worth $1,634,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RBRK. Vanguard Group Inc. increased its position in Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after purchasing an additional 3,372,323 shares during the period. Norges Bank purchased a new position in shares of Rubrik during the fourth quarter valued at about $277,395,000. FMR LLC raised its stake in 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 buying an additional 2,065,444 shares in the last quarter. First Trust Advisors LP lifted its holdings in Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock worth $206,278,000 after buying an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Rubrik by 27.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after buying an additional 427,149 shares during the period. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $80.01, for a total value of $2,000,250.00. Following the transaction, the executive now owns 529,584 shares of the company’s stock, valued at approximately $42,372,015.84. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.77, for a total value of $2,071,568.45. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at $13,983,421.83. The trade was a 12.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 594,617 shares of company stock worth $40,386,273 over the last three months.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RBRK shares. Cantor Fitzgerald increased their target price on Rubrik from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler reduced their price target on Rubrik from $87.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Mizuho downgraded Rubrik from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $75.00 to $86.00 in a report on Thursday. BMO Capital Markets boosted their target price on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Finally, Citigroup upped their target price on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $71.05.

Rubrik Price Performance

RBRK stock opened at $85.25 on Friday. The stock has a market capitalization of $16.18 billion and a P/E ratio of -6.19. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $86.86. The business has a fifty day moving average price of $66.44 and a 200-day moving average price of $63.70.

Rubrik (NYSE:RBRK) last issued its earnings results 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 during the quarter, compared to analyst estimates of $233.13 million. The business’s revenue was up 47.5% compared to the same quarter last year. During the same period last year, the business posted ($1.59) earnings per share. As a group, analysts anticipate 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.