Fiera Capital Corp Buys Shares of 333,207 Rubrik, Inc. (NYSE:RBRK)

Fiera Capital Corp purchased a new position in Rubrik, Inc. (NYSE:RBRK) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 333,207 shares of the company’s stock, valued at approximately $20,319,000.

Several other hedge funds and other institutional investors have also modified their holdings of RBRK. LPL Financial LLC boosted its position in Rubrik by 4.8% during the first quarter. LPL Financial LLC now owns 99,814 shares of the company’s stock worth $6,087,000 after purchasing an additional 4,543 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rubrik by 20.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,159 shares of the company’s stock worth $1,351,000 after buying an additional 3,800 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Rubrik in the first quarter worth $3,671,000. Assetmark Inc. bought a new stake in shares of Rubrik during the 1st quarter worth $886,000. Finally, KLP Kapitalforvaltning AS grew its stake in Rubrik by 20.5% in the 1st quarter. KLP Kapitalforvaltning AS now owns 15,900 shares of the company’s stock valued at $970,000 after buying an additional 2,700 shares during the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBRK has been the subject of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $110.00 target price (up previously from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Mizuho cut Rubrik from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. KeyCorp reaffirmed an “overweight” rating and issued a $113.00 target price (up previously from $98.00) on shares of Rubrik in a report on Friday, June 6th. Cantor Fitzgerald raised their price objective on shares of Rubrik from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Finally, Wall Street Zen raised shares of Rubrik from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

Rubrik Stock Performance

NYSE:RBRK opened at $89.25 on Wednesday. The company has a 50-day moving average of $89.81 and a 200-day moving average of $75.80. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The company has a market capitalization of $17.27 billion, a price-to-earnings ratio of -31.54 and a beta of 0.46.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. The business’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same period last year, the company earned ($1.58) EPS. Sell-side analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $71.44, for a total value of $1,786,000.00. Following the sale, the executive owned 554,217 shares of the company’s stock, valued at $39,593,262.48. The trade was a 4.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Arvind Nithrakashyap sold 43,128 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $88.56, for a total value of $3,819,415.68. Following the completion of the sale, the chief technology officer owned 38,122 shares in the company, valued at $3,376,084.32. This trade represents a 53.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,209,515 shares of company stock worth $108,652,757 over the last 90 days. Corporate insiders own 32.38% of the company’s stock.

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.