UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $8 Million Holdings in Rubrik, Inc. (NYSE:RBRK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Rubrik, Inc. (NYSE:RBRK) by 24.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,772 shares of the company’s stock after buying an additional 49,372 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.14% of Rubrik worth $7,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in Rubrik during the 3rd quarter valued at $25,000. KBC Group NV bought a new position in shares of Rubrik in the third quarter valued at about $72,000. Quent Capital LLC acquired a new stake in shares of Rubrik during the 3rd quarter worth about $192,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Rubrik during the 3rd quarter worth about $208,000. Finally, Whalen Wealth Management Inc. acquired a new position in Rubrik in the 3rd quarter valued at about $243,000. 49.54% of the stock is currently owned by institutional investors.

Rubrik Trading Up 8.0 %

Shares of RBRK opened at $69.81 on Tuesday. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $72.66. The business’s fifty day moving average is $43.40 and its 200-day moving average is $36.46.

Rubrik (NYSE:RBRK) last released its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. Research analysts forecast that Rubrik, Inc. will post -8.04 earnings per share for the current year.

Insider Activity

In related news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive now directly owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 574,912 shares of company stock worth $22,673,114.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RBRK shares. Wedbush boosted their price objective on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Robert W. Baird boosted their price target on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Oppenheimer assumed coverage on Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Wells Fargo & Company boosted their target price on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Cantor Fitzgerald raised their price target on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $61.88.

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.