Fred Alger Management LLC Buys New Shares in Rubrik, Inc. $RBRK

Fred Alger Management LLC bought a new position in Rubrik, Inc. (NYSE:RBRK) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 167,630 shares of the company’s stock, valued at approximately $13,788,000. Fred Alger Management LLC owned 0.08% of Rubrik as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Allworth Financial LP lifted its position in shares of Rubrik by 1,030.8% in the second quarter. Allworth Financial LP now owns 294 shares of the company’s stock valued at $26,000 after acquiring an additional 268 shares in the last quarter. Bogart Wealth LLC grew its position in shares of Rubrik by 352.2% during the third quarter. Bogart Wealth LLC now owns 312 shares of the company’s stock worth $26,000 after purchasing an additional 243 shares in the last quarter. 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 purchased a new position in Rubrik in the 3rd quarter worth approximately $31,000. Finally, Guerra Advisors Inc purchased a new position in Rubrik in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Rubrik Price Performance

Shares of RBRK opened at $51.60 on Tuesday. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of -29.15 and a beta of 0.46. Rubrik, Inc. has a 1 year low of $46.36 and a 1 year high of $103.00. The business’s 50 day simple moving average is $58.70 and its 200-day simple moving average is $71.36.

Rubrik (NYSE:RBRK) last posted its 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 business had revenue of $377.68 million during the quarter, compared to analysts’ expectations of $342.43 million. During the same period last year, the business posted ($0.18) earnings per share. The company’s revenue for the quarter was up 46.3% compared to the same quarter last year. Rubrik has set its Q1 2027 guidance at -0.040–0.020 EPS and its FY 2027 guidance at 0.070-0.270 EPS. On average, sell-side analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 20,000 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $67.66, for a total transaction of $1,353,200.00. Following the sale, the chief financial officer directly owned 489,959 shares in the company, valued at approximately $33,150,625.94. This represents a 3.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Arvind Nithrakashyap sold 31,450 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $76.19, for a total transaction of $2,396,175.50. Following the sale, the chief technology officer owned 342,703 shares in the company, valued at $26,110,541.57. This represents a 8.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 146,219 shares of company stock worth $9,834,982 over the last three months. 32.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RBRK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rubrik in a report on Monday, December 29th. The Goldman Sachs Group lowered their target price on shares of Rubrik from $120.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Truist Financial cut their target price on shares of Rubrik from $110.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. William Blair upgraded shares of Rubrik from a “market perform” rating to an “outperform” rating in a report on Friday, December 5th. Finally, Rosenblatt Securities decreased their price target on shares of Rubrik from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rubrik presently has an average rating of “Moderate Buy” and an average price target of $90.42.

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).