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

Sumitomo Mitsui Trust Group Inc. trimmed its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,940 shares of the company's stock after selling 97,212 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.30% of Rubrik worth $35,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Renaissance Capital LLC boosted its stake in Rubrik by 190.1% during the 3rd quarter. Renaissance Capital LLC now owns 60,061 shares of the company's stock valued at $1,931,000 after purchasing an additional 39,354 shares during the last quarter. Legacy Capital Group California Inc. acquired a new position in Rubrik during the 3rd quarter valued at about $2,419,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik in the 3rd quarter worth approximately $208,000. Diversify Wealth Management LLC purchased a new position in shares of Rubrik in the 3rd quarter worth approximately $1,808,000. Finally, Stephens Investment Management Group LLC boosted its stake in shares of Rubrik by 3.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company's stock worth $8,499,000 after buying an additional 8,903 shares during the last quarter. 49.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

RBRK has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Rubrik from $40.00 to $76.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Rosenblatt Securities assumed coverage on Rubrik in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price objective on the stock. Guggenheim boosted their target price on shares of Rubrik from $52.00 to $72.00 and gave the company a "buy" rating in a report on Friday, December 6th. Mizuho boosted their target price on shares of Rubrik from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Finally, Citigroup upped their price target on shares of Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.33.

Insider Buying and Selling

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $45.00, for a total transaction of $81,000.00. Following the sale, the chief financial officer now owns 384,560 shares of the company's stock, valued at approximately $17,305,200. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $16,413,033.15. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 646,434 shares of company stock worth $42,154,951 over the last 90 days.

Rubrik Trading Down 1.4 %

Shares of NYSE RBRK traded down $1.10 during midday trading on Friday, hitting $77.62. The company's stock had a trading volume of 1,201,469 shares, compared to its average volume of 1,958,402. The business's fifty day simple moving average is $70.04 and its two-hundred day simple moving average is $49.32. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

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.