Sumitomo Mitsui Trust Group Inc. Buys Shares of 646,152 Rubrik, Inc. (NYSE:RBRK)

Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 646,152 shares of the company's stock, valued at approximately $20,774,000. Sumitomo Mitsui Trust Group Inc. owned approximately 0.36% of Rubrik as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Register Financial Advisors LLC acquired a new stake in shares of Rubrik in the 2nd quarter valued at about $227,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Rubrik in the 2nd quarter valued at about $6,730,000. EFG Asset Management North America Corp. acquired a new stake in shares of Rubrik in the 2nd quarter valued at about $925,000. ARK Investment Management LLC acquired a new stake in shares of Rubrik in the 2nd quarter valued at about $6,043,000. Finally, Cisco Systems Inc. acquired a new stake in shares of Rubrik in the 2nd quarter valued at about $5,613,000.

Rubrik Trading Up 1.3 %

NYSE:RBRK traded up $0.55 during mid-day trading on Monday, hitting $43.79. The company had a trading volume of 750,113 shares, compared to its average volume of 1,484,734. The business has a fifty day simple moving average of $37.41 and a 200-day simple moving average of $34.57. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $45.90.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. Research analysts predict that Rubrik, Inc. will post -8.04 earnings per share for the current fiscal year.

Insider Transactions at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now directly owns 493,360 shares of the company's stock, valued at approximately $15,496,437.60. This represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 454,512 shares of company stock valued at $15,813,462.

Wall Street Analysts Forecast Growth

RBRK has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on Rubrik in a research report on Wednesday, November 13th. They issued a "market perform" rating for the company. Citigroup upped their target price on Rubrik from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Truist Financial increased their price objective on Rubrik from $43.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday. CIBC increased their price objective on Rubrik from $50.00 to $52.00 and gave the stock an "outperformer" rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets decreased their price objective on Rubrik from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, September 10th. One equities research analyst has 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 MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $45.41.

Rubrik Company 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.