Renaissance Technologies LLC Makes New Investment in Rubrik, Inc. (NYSE:RBRK)

Renaissance Technologies LLC bought a new stake in Rubrik, Inc. (NYSE:RBRK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 987,300 shares of the company’s stock, valued at approximately $64,530,000.

Several other hedge funds have also added to or reduced their stakes in RBRK. Russell Investments Group Ltd. acquired a new position in shares of Rubrik during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC raised its holdings in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after buying an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new position in Rubrik in the 4th quarter worth about $39,000. Rhumbline Advisers acquired a new position in Rubrik in the 4th quarter worth about $64,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Rubrik in the fourth quarter valued at about $70,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Stock Up 17.0 %

Shares of NYSE RBRK opened at $61.78 on Thursday. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $80.00. The business has a 50-day simple moving average of $66.26 and a two-hundred day simple moving average of $57.79. The company has a market cap of $11.72 billion and a P/E ratio of -4.48.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, March 13th. The company reported ($0.61) 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. The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.59) earnings per share. Equities research analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 153 shares in the company, valued at $10,342.80. The trade was a 94.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the firm’s stock in a transaction dated 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 transaction, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $14,229,014.31. This trade represents a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 732,302 shares of company stock valued at $48,269,123.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RBRK. Wedbush increased 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. Robert W. Baird reduced their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. William Blair assumed coverage on Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. Piper Sandler lowered their price target on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Mizuho upped their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $69.17.

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.