Point72 Asset Management L.P. Sells 1,060,288 Shares of Rubrik, Inc. (NYSE:RBRK)

Point72 Asset Management L.P. cut its holdings in Rubrik, Inc. (NYSE:RBRK) by 80.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 253,774 shares of the company’s stock after selling 1,060,288 shares during the period. Point72 Asset Management L.P.’s holdings in Rubrik were worth $16,587,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RBRK. Norges Bank acquired a new stake in Rubrik in the 4th quarter valued at approximately $277,395,000. Vanguard Group Inc. boosted its position in shares of Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after acquiring an additional 3,372,323 shares during the period. FMR LLC boosted its position in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after acquiring an additional 2,065,444 shares during the period. Bank of America Corp DE grew its stake in shares of Rubrik by 1,305.1% in the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock worth $72,994,000 after acquiring an additional 1,037,319 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Rubrik during the fourth quarter worth $64,530,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,485 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.77, for a total transaction of $2,071,568.45. Following the sale, the chief technology officer now owns 219,279 shares in the company, valued at approximately $13,983,421.83. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $70.04, for a total value of $6,161,488.84. Following the sale, the chief financial officer now owns 413,458 shares in the company, valued at approximately $28,958,598.32. This represents a 17.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 594,617 shares of company stock worth $40,386,273.

Wall Street Analyst Weigh In

RBRK has been the subject of several research analyst reports. Mizuho cut shares of Rubrik from an “outperform” rating to a “neutral” rating and upped their target price for the company from $75.00 to $86.00 in a research note on Thursday. BMO Capital Markets increased their target price on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Wells Fargo & Company lifted their target price on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Rosenblatt Securities raised Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a report on Wednesday, March 12th. Finally, Guggenheim raised their price objective on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $71.05.

Rubrik Trading Down 0.1%

NYSE RBRK opened at $85.40 on Friday. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $87.50. The company has a market capitalization of $16.21 billion and a PE ratio of -6.20. The stock has a 50-day simple moving average of $67.07 and a 200 day simple moving average of $64.14.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS 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 analyst estimates of $233.13 million. The firm’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.59) EPS. As a group, sell-side analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

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.