646,152 Shares in Rubrik, Inc. (NYSE:RBRK) Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Rubrik, Inc. (NYSE:RBRK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 646,152 shares of the company’s stock, valued at approximately $20,774,000.

A number of other hedge funds have also recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik in the second quarter worth $47,523,000. Clearbridge Investments LLC purchased a new stake in shares of Rubrik in the second quarter worth about $32,888,000. Pathway Capital Management LP acquired a new position in shares of Rubrik in the third quarter worth about $23,527,000. EPIQ Capital Group LLC acquired a new position in shares of Rubrik in the second quarter worth about $15,111,000. Finally, SG Americas Securities LLC acquired a new stake in Rubrik during the third quarter valued at approximately $10,200,000.

Insider Activity at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. This represents a 63.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 444,512 shares of company stock worth $15,368,662.

Rubrik Stock Performance

Shares of RBRK opened at $43.24 on Monday. Rubrik, Inc. has a one year low of $28.34 and a one year high of $45.90. The stock has a 50-day moving average of $37.18 and a 200-day moving average of $34.50.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on RBRK. Citigroup increased their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Truist Financial restated a “buy” rating and issued a $43.00 target price on shares of Rubrik in a report on Tuesday, September 10th. Oppenheimer assumed coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Wedbush raised their price target on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler initiated coverage on Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Rubrik currently has an average rating of “Buy” and an average price target of $45.00.

About Rubrik

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.