Manufacturers Life Boosts Investment in Rubrik, Inc. by 37.5%

The Manufacturers Life Insurance Company significantly increased its investment in Rubrik, Inc. (NYSE:RBRK) by 37.5% during the first quarter, as reported by recent SEC filings. By adding 15,643 shares to its portfolio, the firm now holds a total of 57,372 shares valued at approximately $2.81 million.

Notably, other major investors have also revised their stakes in Rubrik. Vanguard Group Inc. enhanced its position by 12.9% in the fourth quarter, acquiring an additional 1,678,255 shares. This increased their total to 14,694,503 shares, valued at about $1.12 billion. Similarly, First Trust Advisors LP boosted its holdings by 42.8% during the same timeframe, now owning 7,064,057 shares worth $540.26 million.

In a strategic move, Norges Bank began a new investment in Rubrik during the fourth quarter, estimated at approximately $345.91 million. Meanwhile, Pictet Asset Management Holding SA expanded its position by 104.1% in the first quarter, currently holding 3,325,503 shares valued at $162.57 million. Geode Capital Management LLC also increased its stake by 7.6%, reaching a total of 2,528,649 shares worth around $193.43 million. Overall, institutional investors possess 49.54% of Rubrik’s stock.

Several equity analysts have provided ratings for Rubrik, with Weiss Ratings maintaining a "sell" rating. Meanwhile, Canadian Imperial Bank of Commerce and Mizuho rated Rubrik as "outperform," and UBS Group along with Guggenheim reaffirmed "buy" ratings. Of the 30 analysts covering Rubrik, 29 issued a "Buy" rating, while one gave a "Sell" rating, citing an average price target of $94.20 according to MarketBeat data.

Rubrik, Inc. recently announced earnings that exceeded market expectations, reporting a $0.16 EPS compared to an anticipated loss of $0.03 for the quarter ending June 4. The company achieved a revenue of $387.07 million, surpassing the projected $366.31 million and marking a 39% increase from the previous year. Rubrik projects a full-year EPS guidance for 2027 between $0.250-$0.350, with second quarter guidance between $0.030-$0.050, while analysts forecast an EPS of -$1.16 for the current year.

In recent trading activity, Director John Wendell Thompson sold 11,000 shares on July 1, and Director Ravi Mhatre sold 3,979 shares on June 26. These sales were conducted as part of pre-arranged trading plans disclosed through the SEC.

Rubrik specializes in cloud data management and security, offering a comprehensive platform that includes data protection, compliance, and disaster recovery solutions. The Rubrik Security Cloud enables automated backup and recovery across diverse environments, bolstering defenses against ransomware and supporting business continuity. Their offerings include backup, long-term data archiving, replication, and Disaster Recovery as a Service (DRaaS).

For more details on Rubrik's institutional investors and insider trades, visit HoldingsChannel.com.