JPMorgan Chase & Co. Sells 144,866 Shares of Rubrik, Inc. (NYSE:RBRK)

JPMorgan Chase & Co. lowered its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,552,035 shares of the company's stock after selling 144,866 shares during the period. JPMorgan Chase & Co. owned approximately 0.84% of Rubrik worth $49,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new position in shares of Rubrik in the 2nd quarter worth $503,000. Natixis Advisors LLC bought a new position in shares of Rubrik in the second quarter valued at $406,000. PFG Investments LLC acquired a new position in shares of Rubrik during the second quarter valued at about $242,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Rubrik during the second quarter worth about $3,270,000. Finally, EPIQ Capital Group LLC acquired a new stake in shares of Rubrik in the 2nd quarter worth about $15,111,000. Institutional investors own 49.54% of the company's stock.

Insider Buying and Selling at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 45,800 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the sale, the chief financial officer now owns 448,560 shares in the company, valued at $17,592,523.20. This represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Friday, October 11th. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the transaction, the executive now owns 412,545 shares of the company's stock, valued at approximately $16,501,800. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 340,241 shares of company stock valued at $17,618,308 over the last three months.

Analyst Upgrades and Downgrades

RBRK has been the subject of a number of analyst reports. Robert W. Baird lifted their price target on Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. Barclays lifted their target price on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Mizuho increased their price target on Rubrik from $75.00 to $82.00 and gave the company an "outperform" rating in a research report on Tuesday, December 17th. KeyCorp lifted their price objective on shares of Rubrik from $57.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Finally, CIBC increased their target price on shares of Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $64.11.

Rubrik Stock Up 0.8 %

Shares of RBRK stock traded up $0.55 on Friday, hitting $66.90. 2,606,797 shares of the stock were exchanged, compared to its average volume of 2,125,948. The firm's 50 day moving average is $55.55 and its two-hundred day moving average is $41.35. Rubrik, Inc. has a one year low of $28.34 and a one year high of $75.79.

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.