Fred Alger Management LLC Takes $13.79 Million Position in Rubrik, Inc. $RBRK

Fred Alger Management LLC bought a new position in Rubrik, Inc. (NYSE:RBRK) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 167,630 shares of the company’s stock, valued at approximately $13,788,000.

Several other large investors have also recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in Rubrik by 12.0% during the 2nd quarter. NewEdge Advisors LLC now owns 1,400 shares of the company’s stock valued at $125,000 after buying an additional 150 shares during the period. CI Investments Inc. boosted its stake in Rubrik by 31.7% during the third quarter. CI Investments Inc. now owns 859 shares of the company’s stock worth $71,000 after buying an additional 207 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Rubrik by 24.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,146 shares of the company’s stock worth $94,000 after buying an additional 224 shares during the period. Creative Planning increased its position in Rubrik by 5.3% during the second quarter. Creative Planning now owns 4,668 shares of the company’s stock valued at $418,000 after acquiring an additional 236 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Rubrik by 68.5% during the second quarter. Advisors Asset Management Inc. now owns 588 shares of the company’s stock valued at $53,000 after acquiring an additional 239 shares during the last quarter. Institutional investors own 49.54% of the company’s stock.

Insider Activity at Rubrik

In other news, insider Brian K. Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $70.88, for a total transaction of $708,800.00. Following the transaction, the insider directly owned 330,772 shares of the company’s stock, valued at approximately $23,445,119.36. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Wendell Thompson sold 11,000 shares of Rubrik stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $73.84, for a total transaction of $812,240.00. Following the sale, the director directly owned 2,702 shares of the company’s stock, valued at $199,515.68. This represents a 80.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 146,219 shares of company stock valued at $9,834,982. 32.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RBRK has been the subject of several analyst reports. Stephens initiated coverage on shares of Rubrik in a report on Monday, December 29th. They issued an “overweight” rating and a $105.00 target price for the company. Citigroup reduced their price objective on shares of Rubrik from $115.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler reissued an “overweight” rating and issued a $84.00 price objective (down from $99.00) on shares of Rubrik in a research note on Friday. Truist Financial dropped their target price on Rubrik from $110.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Oppenheimer assumed coverage on Rubrik in a research note on Monday, November 17th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rubrik has a consensus rating of “Moderate Buy” and an average target price of $90.42.

Rubrik Trading Down 3.4%

NYSE RBRK opened at $51.60 on Tuesday. The company’s 50-day moving average price is $58.70 and its 200-day moving average price is $71.36. The stock has a market cap of $10.33 billion, a PE ratio of -29.15 and a beta of 0.46. Rubrik, Inc. has a 12 month low of $46.36 and a 12 month high of $103.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.15. The company had revenue of $377.68 million for the quarter, compared to the consensus estimate of $342.43 million. The company’s quarterly revenue was up 46.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) EPS. Rubrik has set its Q1 2027 guidance at -0.040–0.020 EPS and its FY 2027 guidance at 0.070-0.270 EPS. As a group, sell-side analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

About Rubrik

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).