Sumitomo Mitsui Trust Group Inc. Purchases New Position in Rubrik, Inc. (NYSE:RBRK)

Sumitomo Mitsui Trust Group Inc. acquired a new stake in Rubrik, Inc. (NYSE:RBRK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 646,152 shares of the company’s stock, valued at approximately $20,774,000. Sumitomo Mitsui Trust Group Inc. owned about 0.36% of Rubrik at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co acquired a new position in shares of Rubrik in the 3rd quarter valued at about $432,000. Davidson Kempner Capital Management LP purchased a new position in shares of Rubrik during the second quarter worth $2,606,000. Bank of Montreal Can purchased a new position in Rubrik in the second quarter valued at $427,000. ARK Investment Management LLC purchased a new position in Rubrik in the second quarter valued at $6,043,000. Finally, EPIQ Capital Group LLC acquired a new stake in Rubrik in the second quarter valued at $15,111,000.

Insider Buying and Selling

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 2,670 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $45.07, for a total value of $120,336.90. Following the transaction, the chief financial officer now owns 396,160 shares of the company’s stock, valued at $17,854,931.20. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 444,512 shares of company stock worth $15,368,662 in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. CIBC raised their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Truist Financial reiterated a “buy” rating and issued a $43.00 price target on shares of Rubrik in a report on Tuesday, September 10th. Oppenheimer started coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. Wedbush upped their price objective on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, FBN Securities assumed coverage on shares of Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price on the stock. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $45.00.

Rubrik Trading Down 2.8 %

Shares of NYSE:RBRK opened at $43.24 on Monday. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $45.90. The company has a 50-day moving average price of $37.18 and a two-hundred day moving average price of $34.50.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (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 analyst estimates of $195.58 million. As a group, sell-side analysts anticipate that Rubrik, Inc. will post -8.04 EPS for the current fiscal year.

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.