Norges Bank Acquires Shares of 4,522,846 Rubrik, Inc. $RBRK

Norges Bank acquired a new stake in shares of Rubrik, Inc. (NYSE:RBRK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,522,846 shares of the company’s stock, valued at approximately $345,907,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RBRK. EverSource Wealth Advisors LLC lifted its holdings in Rubrik by 1,360.0% during the third quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $30,000 after purchasing an additional 340 shares in the last quarter. Financial Life Planners purchased a new position in shares of Rubrik in the third quarter worth about $31,000. Atlantic Union Bankshares Corp lifted its stake in shares of Rubrik by 100.0% in the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Guerra Advisors Inc purchased a new position in shares of Rubrik in the third quarter worth about $33,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Rubrik in the third quarter worth about $34,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target (down from $99.00) on shares of Rubrik in a research note on Friday, March 13th. Robert W. Baird decreased their price target on shares of Rubrik from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. UBS Group reissued a “buy” rating on shares of Rubrik in a research note on Monday. Oppenheimer raised shares of Rubrik from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Wednesday, May 20th. Finally, Truist Financial decreased their price target on shares of Rubrik from $110.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.12.

Rubrik Price Performance

Shares of RBRK stock opened at $85.20 on Tuesday. Rubrik, Inc. has a 12 month low of $42.25 and a 12 month high of $103.00. The company has a market capitalization of $17.23 billion, a PE ratio of -48.13 and a beta of 1.09. The firm’s 50-day moving average is $56.47 and its two-hundred day moving average is $62.38.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.15. The company had revenue of $377.68 million for the quarter, compared to analyst estimates of $342.43 million. During the same quarter in the prior year, the business earned ($0.18) earnings per share. Rubrik’s revenue was up 46.3% on a year-over-year basis. Rubrik has set its Q1 2027 guidance at -0.040–0.020 EPS and its FY 2027 guidance at 0.070-0.270 EPS. Sell-side analysts forecast that Rubrik, Inc. will post -1.45 EPS for the current year.

Insider Transactions at Rubrik

In other news, Director Mark D. Mclaughlin bought 10,638 shares of the business’s stock in a transaction on Monday, March 30th. The shares were bought at an average price of $47.21 per share, with a total value of $502,219.98. Following the completion of the transaction, the director directly owned 13,639 shares in the company, valued at $643,897.19. This trade represents a 354.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Wendell Thompson sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $55.51, for a total value of $138,775.00. Following the completion of the sale, the director directly owned 17,500 shares in the company, valued at approximately $971,425. The trade was a 12.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 172,451 shares of company stock worth $8,565,952 in the last ninety days. 13.66% of the stock is owned by company insiders.

About Rubrik

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).