Royal Bank of Canada Grows Stock Position in Rubrik, Inc. $RBRK

Royal Bank of Canada increased its stake in Rubrik, Inc. (NYSE:RBRK) by 64.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 375,259 shares of the company’s stock after acquiring an additional 146,939 shares during the period. Royal Bank of Canada owned about 0.19% of Rubrik worth $18,376,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RBRK. Atlantic Union Bankshares Corp lifted its position in Rubrik by 100.0% in the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Rubrik in the fourth quarter worth $33,000. Banque Cantonale Vaudoise purchased a new position in shares of Rubrik in the third quarter worth $34,000. Los Angeles Capital Management LLC bought a new stake in Rubrik during the 4th quarter valued at $35,000. Finally, Comerica Bank raised its holdings in Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after buying an additional 395 shares during the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ravi Mhatre sold 3,979 shares of Rubrik stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $71.49, for a total transaction of $284,458.71. Following the completion of the transaction, the director directly owned 113,477 shares in the company, valued at approximately $8,112,470.73. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Arvind Nithrakashyap sold 199,447 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $84.28, for a total value of $16,809,393.16. Following the completion of the sale, the chief technology officer directly owned 314,048 shares in the company, valued at approximately $26,467,965.44. This represents a 38.84% 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. Over the last ninety days, insiders sold 317,682 shares of company stock worth $26,402,176. Insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RBRK. Piper Sandler reissued an “overweight” rating and set a $91.00 price target (up from $84.00) on shares of Rubrik in a research report on Friday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of Rubrik in a research note on Friday, June 5th. BMO Capital Markets increased their target price on shares of Rubrik from $87.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Rubrik in a research note on Friday, June 5th. Finally, KeyCorp boosted their price target on Rubrik from $88.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Twenty-nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.20.

Rubrik Price Performance

NYSE:RBRK opened at $84.81 on Friday. The firm’s 50-day moving average price is $77.01 and its 200-day moving average price is $63.09. The company has a market capitalization of $17.46 billion, a PE ratio of -58.49 and a beta of 1.17. Rubrik, Inc. has a 1-year low of $42.25 and a 1-year high of $99.75.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.19. The business had revenue of $387.07 million for the quarter, compared to analysts’ expectations of $366.31 million. During the same period last year, the business earned ($0.15) earnings per share. The company’s revenue was up 39.0% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. Equities analysts anticipate that Rubrik, Inc. will post -1.16 EPS for the current fiscal year.

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).