Fred Alger Management LLC Acquires 123,873 Shares of Rubrik, Inc. $RBRK

Fred Alger Management LLC boosted its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 73.9% during the 4th quarter, Holdings Channel reports. The firm owned 291,503 shares of the company’s stock after buying an additional 123,873 shares during the period. Fred Alger Management LLC’s holdings in Rubrik were worth $22,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in Rubrik by 1,360.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $30,000 after purchasing an additional 340 shares during the period. Financial Life Planners bought a new stake in Rubrik during the 3rd quarter valued at approximately $31,000. Atlantic Union Bankshares Corp grew its holdings in Rubrik by 100.0% during the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Rubrik during the 3rd quarter valued at approximately $34,000. Finally, Triumph Capital Management purchased a new position in Rubrik during the 4th quarter valued at approximately $33,000. Institutional investors own 49.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RBRK shares. Cantor Fitzgerald restated an “overweight” rating and set a $95.00 price target (up from $85.00) on shares of Rubrik in a report on Thursday, June 11th. Robert W. Baird raised their price target on Rubrik from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Rubrik in a report on Friday, March 27th. Stephens restated an “overweight” rating and set a $90.00 price target on shares of Rubrik in a report on Monday. Finally, Barclays raised their price target on Rubrik from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Twenty-eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rubrik currently has an average rating of “Moderate Buy” and an average target price of $93.00.

Rubrik Price Performance

NYSE RBRK opened at $69.22 on Wednesday. The stock has a market capitalization of $14.25 billion, a PE ratio of -47.74 and a beta of 1.09. The business has a 50 day simple moving average of $61.87 and a two-hundred day simple moving average of $62.67. Rubrik, Inc. has a 1-year low of $42.25 and a 1-year high of $99.75.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, June 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.19. The company had revenue of $387.07 million during the quarter, compared to analysts’ expectations of $366.31 million. Rubrik’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.15) EPS. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. On average, analysts anticipate that Rubrik, Inc. will post -1.16 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other news, Director Yvonne Wassenaar sold 2,838 shares of Rubrik stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $75.00, for a total value of $212,850.00. Following the completion of the transaction, the director owned 2,326 shares in the company, valued at approximately $174,450. The trade was a 54.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark D. Mclaughlin bought 10,638 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was bought at an average price of $47.21 per share, with a total value of $502,219.98. Following the acquisition, the director owned 13,639 shares in the company, valued at approximately $643,897.19. This trade represents a 354.48% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 398,939 shares of company stock worth $27,628,167. 13.66% of the stock is currently owned by corporate insiders.

Rubrik Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).