Sumitomo Mitsui Trust Group Inc. Sells 33,058 Shares of Rubrik, Inc. (NYSE:RBRK)

Sumitomo Mitsui Trust Group Inc. lessened its stake in Rubrik, Inc. (NYSE:RBRK - Free Report) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 515,882 shares of the company's stock after selling 33,058 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Rubrik worth $31,458,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RBRK. Russell Investments Group Ltd. purchased a new position in shares of Rubrik in the fourth quarter valued at about $28,000. Nemes Rush Group LLC bought a new stake in shares of Rubrik in the fourth quarter worth about $39,000. Point72 Hong Kong Ltd purchased a new position in Rubrik during the 4th quarter valued at about $47,000. Quarry LP bought a new position in Rubrik during the 4th quarter valued at approximately $48,000. Finally, CoreCap Advisors LLC purchased a new stake in Rubrik in the 4th quarter worth approximately $59,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RBRK has been the topic of several research analyst reports. Truist Financial boosted their target price on Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, June 6th. BMO Capital Markets reissued an "outperform" rating and set a $110.00 price objective (up from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Oppenheimer reaffirmed a "market perform" rating on shares of Rubrik in a research report on Friday, June 6th. Wedbush boosted their price target on shares of Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Finally, Piper Sandler decreased their price target on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $100.38.

Rubrik Stock Performance

Shares of RBRK traded up $2.74 during trading hours on Thursday, hitting $88.32. The company had a trading volume of 2,392,094 shares, compared to its average volume of 2,477,675. The stock has a market capitalization of $17.09 billion, a price-to-earnings ratio of -31.21 and a beta of 0.46. The firm has a fifty day moving average price of $86.02 and a 200-day moving average price of $73.23. Rubrik, Inc. has a 52-week low of $28.60 and a 52-week high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to analysts' expectations of $260.39 million. The firm's quarterly revenue was up 48.7% on a year-over-year basis. During the same period last year, the firm posted ($1.58) earnings per share. Research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rubrik news, CTO Arvind Nithrakashyap sold 43,128 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total value of $3,819,415.68. Following the completion of the transaction, the chief technology officer owned 38,122 shares of the company's stock, valued at approximately $3,376,084.32. The trade was a 53.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Enrique T. Salem sold 21,924 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $89.78, for a total transaction of $1,968,336.72. Following the transaction, the director owned 6,937 shares in the company, valued at approximately $622,803.86. This trade represents a 75.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,270,187 shares of company stock worth $111,079,005. 32.38% of the stock is owned by corporate insiders.

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.