IFP Advisors Inc Has $101,000 Stock Position in Rubrik, Inc. (NYSE:RBRK)

IFP Advisors Inc raised its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 3,222.0% during the first quarter, Holdings Channel reports. The firm owned 1,661 shares of the company’s stock after buying an additional 1,611 shares during the period. IFP Advisors Inc’s holdings in Rubrik were worth $101,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in Rubrik by 98.5% during the 4th quarter. Sei Investments Co. now owns 18,511 shares of the company’s stock worth $1,210,000 after acquiring an additional 9,187 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Rubrik in the 4th quarter valued at $863,000. LPL Financial LLC raised its position in Rubrik by 32.9% in the 4th quarter. LPL Financial LLC now owns 95,271 shares of the company’s stock valued at $6,227,000 after purchasing an additional 23,587 shares during the last quarter. Vanguard Group Inc. raised its position in Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after purchasing an additional 3,372,323 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after purchasing an additional 427,149 shares during the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rubrik news, Director John Wendell Thompson sold 9,009 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $85.96, for a total value of $774,413.64. Following the completion of the sale, the director directly owned 998 shares of the company’s stock, valued at approximately $85,788.08. This represents a 90.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lightspeed Management Company, sold 16,984 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.47, for a total transaction of $1,519,558.48. Following the completion of the transaction, the insider owned 59,182 shares in the company, valued at approximately $5,295,013.54. The trade was a 22.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,209,515 shares of company stock worth $108,652,757 in the last ninety days. 32.38% of the stock is owned by corporate insiders.

Rubrik Stock Up 2.5%

RBRK stock opened at $89.25 on Wednesday. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of -31.54 and a beta of 0.46. Rubrik, Inc. has a 12-month low of $28.60 and a 12-month high of $103.00. The company’s fifty day simple moving average is $89.81 and its 200 day simple moving average is $75.80.

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

Analysts Set New Price Targets

RBRK has been the subject of several research analyst reports. UBS Group reiterated a “buy” rating on shares of Rubrik in a research report on Friday, June 6th. Piper Sandler cut their price objective on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $110.00 price objective (up previously from $77.00) on shares of Rubrik in a report on Friday, June 6th. KeyCorp reaffirmed an “overweight” rating and set a $113.00 price objective (up previously from $98.00) on shares of Rubrik in a report on Friday, June 6th. Finally, CIBC upped their price objective on Rubrik from $110.00 to $125.00 and gave the stock an “outperformer” rating in a report on Monday, June 9th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rubrik presently has an average rating of “Moderate Buy” and an average target price of $100.38.

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.