Assenagon Asset Management S.A. Sells 389,820 Shares of Rubrik, Inc. $RBRK

Assenagon Asset Management S.A. lessened its position in Rubrik, Inc. (NYSE:RBRK) by 60.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 252,392 shares of the company’s stock after selling 389,820 shares during the period. Assenagon Asset Management S.A.’s holdings in Rubrik were worth $12,360,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Comerica Bank increased its position 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 purchasing an additional 395 shares during the period. Royal Bank of Canada increased its holdings in shares of Rubrik by 231.3% in the first quarter. Royal Bank of Canada now owns 29,320 shares of the company’s stock valued at $1,789,000 after purchasing an additional 20,471 shares during the period. NewEdge Advisors LLC lifted its stake in Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock valued at $76,000 after acquiring an additional 300 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Rubrik by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company’s stock valued at $57,343,000 after purchasing an additional 236,181 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Rubrik by 204.1% in the first quarter. Rhumbline Advisers now owns 2,980 shares of the company’s stock worth $182,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RBRK shares. Cantor Fitzgerald restated an “overweight” rating on shares of Rubrik in a research report on Friday. Stephens reiterated an “overweight” rating and set a $90.00 target price on shares of Rubrik in a research report on Monday, June 15th. Citigroup lifted their price target on shares of Rubrik from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Oppenheimer boosted their price target on shares of Rubrik from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. Finally, Mizuho upped their price objective on shares of Rubrik from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, June 5th. Twenty-eight investment 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 has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Rubrik Stock Performance

RBRK stock opened at $72.35 on Friday. Rubrik, Inc. has a one year low of $42.25 and a one year high of $99.75. The firm has a market cap of $14.89 billion, a PE ratio of -49.90 and a beta of 1.10. The firm’s 50 day moving average price is $65.44 and its 200-day moving average price is $62.71.

Rubrik (NYSE:RBRK) last posted its earnings results on Thursday, June 4th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.19. The company had revenue of $387.07 million during the quarter, compared to analyst estimates of $366.31 million. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) EPS. 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 research analysts predict that Rubrik, Inc. will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Arvind Nithrakashyap sold 12,820 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $82.16, for a total value of $1,053,291.20. Following the sale, the chief technology officer directly owned 314,048 shares in the company, valued at approximately $25,802,183.68. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Mhatre sold 3,979 shares of Rubrik stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $71.49, for a total value of $284,458.71. Following the sale, the director directly owned 113,477 shares of the company’s stock, valued at $8,112,470.73. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 280,981 shares of company stock worth $22,053,379 over the last ninety days. Insiders own 13.66% of the company’s stock.

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).