State Street Corp Grows Stock Position in Rubrik, Inc. (NYSE:RBRK)

State Street Corp grew its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 368.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 421,096 shares of the company's stock after buying an additional 331,296 shares during the period. State Street Corp owned 0.23% of Rubrik worth $13,538,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RBRK. Dragoneer Investment Group LLC purchased a new stake in Rubrik in the 2nd quarter valued at $47,523,000. Champlain Investment Partners LLC acquired a new position in Rubrik in the third quarter valued at $44,418,000. Point72 Asset Management L.P. acquired a new position in Rubrik in the third quarter valued at $42,247,000. PointState Capital LP purchased a new stake in shares of Rubrik in the third quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC boosted its stake in shares of Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock worth $37,378,000 after buying an additional 1,131,360 shares during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Price Performance

NYSE RBRK traded up $0.45 during trading hours on Thursday, reaching $68.38. The company's stock had a trading volume of 1,711,830 shares, compared to its average volume of 1,781,036. The company's 50-day moving average is $52.19 and its two-hundred day moving average is $39.80. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $75.79.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RBRK. Barclays increased their price objective on Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. CIBC increased 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. Guggenheim boosted their price objective on shares of Rubrik from $52.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, December 6th. BMO Capital Markets raised their target price on shares of Rubrik from $38.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Finally, Mizuho lifted 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. Two research 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $64.11.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 45,800 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $39.22, for a total value of $1,796,276.00. Following the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the sale, the executive now directly owns 437,545 shares in the company, valued at approximately $13,673,281.25. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 336,641 shares of company stock worth $16,482,308 over the last ninety days.

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.