Alliancebernstein L.P. Sells 924,892 Shares of Rubrik, Inc. (NYSE:RBRK)

Alliancebernstein L.P. decreased its position in shares of Rubrik, Inc. (NYSE:RBRK) by 39.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,441,369 shares of the company’s stock after selling 924,892 shares during the quarter. Alliancebernstein L.P. owned approximately 0.78% of Rubrik worth $94,208,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Rubrik by 434.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 335,238 shares of the company’s stock valued at $21,911,000 after acquiring an additional 272,482 shares in the last quarter. Norges Bank purchased a new position in shares of Rubrik in the fourth quarter worth $277,395,000. JPMorgan Chase & Co. boosted its position in shares of Rubrik by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after acquiring an additional 427,149 shares during the last quarter. Lexington Partners L.P. purchased a new position in Rubrik during the fourth quarter valued at $398,000. Finally, EFG Asset Management North America Corp. increased its holdings in Rubrik by 101.5% in the 4th quarter. EFG Asset Management North America Corp. now owns 65,617 shares of the company’s stock valued at $4,293,000 after acquiring an additional 33,047 shares during the last quarter. Institutional investors own 49.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Wedbush lifted their price objective on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Piper Sandler increased their target price on Rubrik from $83.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. KeyCorp reduced their price target on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Finally, William Blair initiated coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $70.00.

Rubrik Price Performance

Rubrik stock opened at $62.44 on Thursday. The stock has a market cap of $11.85 billion and a price-to-earnings ratio of -4.53. The firm has a 50-day moving average of $68.56 and a two-hundred day moving average of $56.82. 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 data on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to the consensus estimate 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 posted ($1.59) earnings per share. Research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Activity

In related news, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at $10,342.80. This represents a 94.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $62.60, for a total value of $112,680.00. Following the completion of the transaction, the chief financial officer now owns 342,174 shares in the company, valued at $21,420,092.40. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 824,635 shares of company stock worth $55,117,349.

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.