Lexington Partners L.P. Invests $398,000 in Rubrik, Inc. (NYSE:RBRK)

Lexington Partners L.P. bought a new stake in Rubrik, Inc. (NYSE:RBRK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,084 shares of the company’s stock, valued at approximately $398,000. Rubrik accounts for about 0.5% of Lexington Partners L.P.’s portfolio, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its position in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $25,000. Rhumbline Advisers purchased a new position in shares of Rubrik during the 4th quarter valued at approximately $64,000. Geneos Wealth Management Inc. acquired a new position in shares of Rubrik in the 4th quarter valued at $70,000. Finally, KBC Group NV boosted its holdings in Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after buying an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RBRK. Robert W. Baird decreased their price objective on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Piper Sandler upped their price target on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Wedbush raised their price objective on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Rubrik in a research report on Friday, March 14th. Finally, Guggenheim increased their target price on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $70.00.

Insider Buying and Selling at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total value of $2,000,689.56. Following the completion of the sale, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at $13,505,393.61. This represents a 12.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $68.03, for a total value of $122,454.00. Following the transaction, the chief financial officer now directly owns 343,774 shares in the company, valued at approximately $23,386,945.22. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,254 shares of company stock worth $41,195,389 over the last three months.

Rubrik Trading Up 8.0 %

Rubrik stock opened at $73.62 on Tuesday. The company has a fifty day simple moving average of $68.99 and a 200-day simple moving average of $55.35. The stock has a market cap of $13.64 billion and a P/E ratio of -5.34. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month 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 analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same period last year, the business earned ($1.59) earnings per share. Rubrik’s revenue was up 47.5% compared to the same quarter last year. As a group, sell-side 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.