Charles Schwab Investment Management Inc. Has $10.46 Million Holdings in Rubrik, Inc. (NYSE:RBRK)

Charles Schwab Investment Management Inc. lifted its position in shares of Rubrik, Inc. (NYSE:RBRK) by 134.2% during the third quarter, Holdings Channel reports. The firm owned 325,420 shares of the company’s stock after acquiring an additional 186,485 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rubrik were worth $10,462,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. KBC Group NV bought a new stake in shares of Rubrik in the third quarter valued at $72,000. Quent Capital LLC purchased a new position in Rubrik in the third quarter worth $192,000. Mount Yale Investment Advisors LLC bought a new position in Rubrik in the third quarter valued at $208,000. Whalen Wealth Management Inc. bought a new position in Rubrik in the third quarter valued at $243,000. Finally, Sei Investments Co. bought a new stake in Rubrik during the second quarter worth about $235,000. 49.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RBRK. BMO Capital Markets boosted their price target on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday. Cantor Fitzgerald raised their target price on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial lifted their target price on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird lifted their price target on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, FBN Securities started coverage on shares of Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.88.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the completion of the transaction, the chief financial officer now owns 423,060 shares in the company, valued at $16,668,564. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at $14,486,909.40. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 574,912 shares of company stock valued at $22,673,114 over the last ninety days.

Rubrik Stock Performance

Shares of RBRK opened at $69.81 on Tuesday. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $72.66. The company’s fifty day moving average is $43.40 and its 200 day moving average is $36.46.

Rubrik (NYSE:RBRK) last posted its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. As a group, sell-side analysts anticipate that Rubrik, Inc. will post -8.04 earnings per share for the current year.

About Rubrik

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.