175,866 Rubrik, Inc. $RBRK Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. grew its position in shares of Rubrik, Inc. (NYSE:RBRK) by 32.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 715,550 shares of the company’s stock after acquiring an additional 175,866 shares during the quarter. Congress Asset Management Co.’s holdings in Rubrik were worth $81,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new position in shares of Rubrik during the 2nd quarter valued at about $317,000. Van Hulzen Asset Management LLC purchased a new stake in Rubrik in the second quarter worth approximately $1,132,000. Pinnacle Wealth Management Advisory Group LLC bought a new position in Rubrik during the second quarter valued at approximately $223,000. Integrated Wealth Concepts LLC grew its position in Rubrik by 181.9% during the second quarter. Integrated Wealth Concepts LLC now owns 21,471 shares of the company’s stock valued at $1,724,000 after acquiring an additional 13,854 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Rubrik by 3,699.4% during the second quarter. NewEdge Advisors LLC now owns 6,649 shares of the company’s stock worth $534,000 after acquiring an additional 6,474 shares in the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kiran Choudary sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $107.32, for a total transaction of $643,920.00. Following the transaction, the chief financial officer owned 958,078 shares in the company, valued at $102,820,930.96. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Thompson sold 11,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $115.69, for a total value of $1,272,590.00. Following the completion of the sale, the director owned 8,362 shares of the company’s stock, valued at approximately $967,399.78. This trade represents a 56.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 130,742 shares of company stock valued at $11,767,065. Company insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

RBRK has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Rubrik from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. Robert W. Baird increased their target price on shares of Rubrik from $130.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, September 23rd. KeyCorp lifted their target price on shares of Rubrik from $112.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. DA Davidson boosted their price target on shares of Rubrik from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Loop Capital initiated coverage on shares of Rubrik in a research report on Monday, August 3rd. They set a “buy” rating and a $100.00 price target for the company. Twenty-eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.42.

Rubrik Stock Performance

Shares of NYSE RBRK traded up $3.25 during mid-day trading on Tuesday, hitting $125.93. The stock had a trading volume of 2,574,401 shares, compared to its average volume of 3,703,394. The business has a 50 day moving average price of $97.59 and a two-hundred day moving average price of $76.62. Rubrik, Inc. has a 1 year low of $42.25 and a 1 year high of $127.90. The firm has a market cap of $26.10 billion, a P/E ratio of -99.94 and a beta of 1.12.

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

Rubrik Profile

Rubrik, Inc is a cybersecurity and data management company that helps organizations protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to support data backup, recovery, security monitoring and cyber resilience.

The company’s primary offering is Rubrik Security Cloud, a cloud-delivered platform that provides data protection and security capabilities, including policy-based backup, immutable data protection, ransomware recovery, threat monitoring and centralized management.