Victory Capital Management Inc. Takes Position in Rubrik, Inc. (NYSE:RBRK)

Victory Capital Management Inc. acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,096 shares of the company’s stock, valued at approximately $464,000.

Several other institutional investors have also modified their holdings of RBRK. KBC Group NV bought a new stake in Rubrik in the 3rd quarter valued at approximately $72,000. Natixis Advisors LLC lifted its stake in Rubrik by 302.5% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rubrik by 134.2% in the 3rd 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 in the last quarter. Champlain Investment Partners LLC bought a new stake in Rubrik in the 3rd quarter valued at approximately $44,418,000. Finally, Penserra Capital Management LLC bought a new stake in Rubrik in the 3rd quarter valued at approximately $35,359,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Price Performance

RBRK opened at $68.15 on Friday. The business has a fifty day simple moving average of $68.82 and a 200 day simple moving average of $54.90. The company has a market capitalization of $12.62 billion and a PE ratio of -4.95. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

Rubrik (NYSE:RBRK) last released 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 company had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. Rubrik’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.59) EPS. Equities analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Yvonne Wassenaar sold 3,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $70.03, for a total transaction of $210,090.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at approximately $10,714.59. This represents a 95.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total value of $14,768,704.44. Following the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at approximately $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 621,254 shares of company stock worth $41,195,389.

Analyst Upgrades and Downgrades

RBRK has been the topic of several recent analyst reports. Wedbush boosted their price target on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Robert W. Baird lowered their price target on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler boosted their price target on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Rubrik in a research report on Friday, March 14th. Finally, Barclays boosted their price target on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $70.00.

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.