Nikko Asset Management Americas Inc. Sells 97,212 Shares of Rubrik, Inc. (NYSE:RBRK)

Nikko Asset Management Americas Inc. lowered its holdings in Rubrik, Inc. (NYSE:RBRK) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 548,940 shares of the company’s stock after selling 97,212 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 0.30% of Rubrik worth $35,879,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Natixis Advisors LLC raised its holdings in shares of Rubrik by 18.9% in the 4th quarter. Natixis Advisors LLC now owns 63,362 shares of the company’s stock valued at $4,141,000 after purchasing an additional 10,091 shares in the last quarter. Swiss National Bank raised its holdings in Rubrik by 24.5% in the fourth quarter. Swiss National Bank now owns 128,400 shares of the company’s stock worth $8,392,000 after purchasing an additional 25,300 shares in the last quarter. Rakuten Securities Inc. bought a new position in Rubrik in the fourth quarter worth about $465,000. HighTower Advisors LLC purchased a new stake in shares of Rubrik during the fourth quarter worth about $1,495,000. Finally, Endowment Wealth Management Inc. purchased a new stake in shares of Rubrik during the fourth quarter worth about $655,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Stock Up 27.6 %

Shares of RBRK stock opened at $70.54 on Monday. The stock has a 50 day simple moving average of $68.27 and a 200-day simple moving average of $53.78. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $80.00.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. During the same period in the prior year, the company posted ($1.59) earnings per share. The business’s revenue was up 47.5% compared to the same quarter last year. Analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Wall Street Analysts Forecast Growth

RBRK has been the topic of a number of research analyst reports. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Wednesday, March 12th. Mizuho boosted their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Truist Financial upped their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays upped their target price on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Citigroup upped their price objective on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $69.78.

Insider Activity at Rubrik

In related news, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 153 shares of the company’s stock, valued at approximately $10,342.80. This represents a 94.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total value of $2,000,689.56. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,712 shares of company stock valued at $41,583,311.

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.