Fmr LLC Sells 71,419 Shares of Rubrik, Inc. (NYSE:RBRK)

Fmr LLC decreased its holdings in Rubrik, Inc. (NYSE:RBRK) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,196,481 shares of the company’s stock after selling 71,419 shares during the quarter. Fmr LLC’s holdings in Rubrik were worth $38,467,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik in the third quarter worth approximately $25,000. KBC Group NV bought a new stake in Rubrik during the third quarter worth $72,000. Quent Capital LLC purchased a new stake in Rubrik in the 3rd quarter valued at $192,000. Mount Yale Investment Advisors LLC bought a new position in Rubrik during the 3rd quarter valued at $208,000. Finally, Whalen Wealth Management Inc. purchased a new position in Rubrik during the 3rd quarter worth $243,000.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald increased their price objective on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company increased their price target on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets lifted their price target on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. Guggenheim upped their price objective on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday. Finally, FBN Securities initiated coverage on Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.59.

Rubrik Trading Up 20.4 %

Shares of NYSE:RBRK opened at $64.63 on Monday. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $72.66. The stock has a 50 day moving average of $42.65 and a 200 day moving average of $36.20.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. As a group, research analysts expect that Rubrik, Inc. will post -8.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares in the company, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the completion of the transaction, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at approximately $16,668,564. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 574,912 shares of company stock valued at $22,673,114 over the last ninety days.

Rubrik Company Profile

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.