Raymond James Financial Inc. Buys New Holdings in Rubrik, Inc. (NYSE:RBRK)

Raymond James Financial Inc. bought a new stake in Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, Holdings Channel reports. The institutional investor bought 175,374 shares of the company’s stock, valued at approximately $11,462,000.

A number of other large investors have also recently bought and sold shares of RBRK. KBC Group NV bought a new stake in Rubrik in the third quarter valued at $72,000. Natixis Advisors LLC grew its position in Rubrik by 302.5% in the third quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock valued at $1,713,000 after acquiring an additional 40,036 shares during the period. Charles Schwab Investment Management Inc. grew its position in Rubrik by 134.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock valued at $10,462,000 after acquiring an additional 186,485 shares during the period. Champlain Investment Partners LLC bought a new stake in Rubrik in the third quarter valued at $44,418,000. Finally, Penserra Capital Management LLC bought a new stake in Rubrik in the third quarter valued at $35,359,000. 49.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on RBRK shares. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday, March 12th. Guggenheim increased their target price on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial increased their target price on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays increased their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, BMO Capital Markets upped their price target on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Rubrik has an average rating of “Buy” and a consensus price target of $70.00.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,499 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total value of $210,090.00. Following the sale, the director now directly owns 153 shares of the company’s stock, valued at $10,714.59. The trade was a 95.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 621,254 shares of company stock valued at $41,195,389.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $70.20 on Friday. The business’s 50 day simple moving average is $68.73 and its two-hundred day simple moving average is $54.51. The firm has a market cap of $13.00 billion and a P/E ratio of -5.09. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate 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. During the same quarter in the prior year, the firm posted ($1.59) EPS. The business’s quarterly revenue was up 47.5% on a year-over-year basis. On average, equities analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Rubrik 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.