Franklin Resources Inc. Decreases Position in Rubrik, Inc. (NYSE:RBRK)

Franklin Resources Inc. decreased its stake in Rubrik, Inc. (NYSE:RBRK) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 775,213 shares of the company’s stock after selling 498,534 shares during the quarter. Franklin Resources Inc. owned about 0.43% of Rubrik worth $24,923,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. EFG Asset Management North America Corp. purchased a new position in Rubrik during the second quarter worth $925,000. ARK Investment Management LLC purchased a new position in shares of Rubrik during the 2nd quarter worth about $6,043,000. Cisco Systems Inc. bought a new position in Rubrik during the 2nd quarter valued at about $5,613,000. Commonwealth Equity Services LLC purchased a new stake in Rubrik in the 2nd quarter worth about $503,000. Finally, Natixis Advisors LLC bought a new stake in Rubrik in the second quarter worth about $406,000. Institutional investors own 49.54% of the company’s stock.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 28,485 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $2,060,604.90. Following the completion of the transaction, the executive now directly owns 346,560 shares of the company’s stock, valued at approximately $25,070,150.40. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 3,973 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total transaction of $287,406.82. Following the completion of the transaction, the chief financial officer now owns 345,374 shares of the company’s stock, valued at approximately $24,984,355.16. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 493,237 shares of company stock valued at $21,391,568.

Rubrik Trading Down 1.6 %

RBRK opened at $66.98 on Friday. The business’s 50-day moving average is $49.37 and its two-hundred day moving average is $38.56. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $75.79.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RBRK. Wells Fargo & Company upped their target price on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. KeyCorp increased their target price on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wedbush lifted their target price on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Mizuho upped their price target on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Barclays lifted their price objective on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $64.11.

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.