Pictet Asset Management Holding SA Sells 824,795 Shares of Rubrik, Inc. $RBRK

Pictet Asset Management Holding SA trimmed its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 34.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,543,486 shares of the company’s stock after selling 824,795 shares during the period. Pictet Asset Management Holding SA’s holdings in Rubrik were worth $176,695,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. United Advisor Group LLC purchased a new stake in shares of Rubrik in the 3rd quarter worth approximately $247,000. Plancorp LLC purchased a new position in Rubrik during the third quarter valued at $272,000. CenterBook Partners LP purchased a new position in Rubrik during the third quarter valued at $5,569,000. Allegiance Financial Group Advisory Services LLC raised its stake in Rubrik by 15.3% during the third quarter. Allegiance Financial Group Advisory Services LLC now owns 5,186 shares of the company’s stock valued at $594,000 after buying an additional 688 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Rubrik by 21.0% in the third quarter. Kestra Advisory Services LLC now owns 10,677 shares of the company’s stock worth $1,222,000 after acquiring an additional 1,854 shares in the last quarter. 49.54% of the stock is owned by institutional investors.

Rubrik Trading Up 0.0%

Shares of RBRK opened at $105.78 on Monday. The business’s fifty day simple moving average is $111.82 and its two-hundred day simple moving average is $77.87. Rubrik, Inc. has a 12 month low of $42.25 and a 12 month high of $139.92. The company has a market cap of $21.93 billion, a price-to-earnings ratio of -83.95 and a beta of 1.08.

Rubrik (NYSE:RBRK) last posted its earnings results on Thursday, August 27th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.16. The business had revenue of $427.26 million during the quarter, compared to the consensus estimate of $396.30 million. During the same period in the previous year, the business posted ($0.03) EPS. The firm’s revenue for the quarter was up 43.9% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. As a group, research analysts forecast that Rubrik, Inc. will post -1.19 EPS for the current year.

Wall Street Analyst Weigh In

RBRK has been the topic of several analyst reports. Truist Financial boosted their target price on Rubrik from $90.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. KeyCorp raised their price target on Rubrik from $112.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Piper Sandler lifted their price target on Rubrik from $91.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Stephens reaffirmed an “overweight” rating on shares of Rubrik in a research report on Friday, August 28th. Finally, Wells Fargo & Company upped their price target on shares of Rubrik from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 25th. Thirty analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.04.

Insider Activity at Rubrik

In related news, Director Yvonne Wassenaar sold 721 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $116.61, for a total transaction of $84,075.81. Following the sale, the director directly owned 2,988 shares of the company’s stock, valued at $348,430.68. This trade represents a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Arvind Nithrakashyap sold 12,820 shares of Rubrik stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $118.08, for a total value of $1,513,785.60. Following the completion of the sale, the chief technology officer owned 272,538 shares of the company’s stock, valued at $32,181,287.04. The trade was a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 139,583 shares of company stock valued at $15,125,212 over the last ninety days. Insiders own 13.66% of the company’s stock.

Rubrik Company Profile

Rubrik, Inc is a cybersecurity and data-management company that helps organizations protect, monitor and recover their data across on-premises systems and cloud environments. Its offerings are designed to support data security and cyber resilience, including recovery from ransomware and other cyber incidents.

The company’s Rubrik Security Cloud platform brings together data protection, threat monitoring and recovery capabilities. Its services help customers manage and secure data across diverse infrastructure, applications and cloud providers.

Founded in 2014, Rubrik serves organizations in multiple industries and geographies.