Champlain Investment Partners LLC Reduces Stake in Rubrik, Inc. (NYSE:RBRK)

Champlain Investment Partners LLC reduced its stake in shares of Rubrik, Inc. (NYSE:RBRK) by 55.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 613,454 shares of the company’s stock after selling 768,141 shares during the period. Champlain Investment Partners LLC owned approximately 0.33% of Rubrik worth $40,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Rubrik in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC lifted its stake in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. Nemes Rush Group LLC purchased a new stake in Rubrik during the fourth quarter worth $39,000. NewEdge Advisors LLC acquired a new stake in Rubrik during the fourth quarter valued at $62,000. Finally, Rhumbline Advisers purchased a new position in Rubrik in the fourth quarter valued at $64,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the completion of the sale, the director now directly owns 153 shares of the company’s stock, valued at approximately $11,828.43. This trade represents a 94.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $70.85, for a total transaction of $2,301,562.25. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at $15,535,917.15. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 515,619 shares of company stock valued at $34,167,897.

Rubrik Price Performance

RBRK stock opened at $61.48 on Friday. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00. The firm has a market capitalization of $11.67 billion and a PE ratio of -4.46. The business has a 50 day simple moving average of $64.60 and a 200-day simple moving average of $58.79.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RBRK. William Blair began coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating on the stock. Wells Fargo & Company raised their price objective on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Guggenheim upped their target price on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. BMO Capital Markets lifted their price target on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, Piper Sandler cut their price target on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and an average target price of $68.83.

Rubrik 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.