Northern Trust Corp Buys 61,857 Shares of Rubrik, Inc. (NYSE:RBRK)

Northern Trust Corp lifted its position in Rubrik, Inc. (NYSE:RBRK - Free Report) by 47.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,276 shares of the company's stock after purchasing an additional 61,857 shares during the quarter. Northern Trust Corp owned 0.10% of Rubrik worth $12,567,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RBRK. Russell Investments Group Ltd. bought a new stake in shares of Rubrik in the 4th quarter valued at about $28,000. Global Retirement Partners LLC lifted its position in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. Nemes Rush Group LLC bought a new position in shares of Rubrik in the fourth quarter worth approximately $39,000. Quarry LP bought a new stake in Rubrik during the 4th quarter valued at $48,000. Finally, NewEdge Advisors LLC purchased a new stake in Rubrik during the 4th quarter valued at $62,000. 49.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on RBRK. Roth Capital initiated coverage on shares of Rubrik in a research note on Thursday, May 15th. They set a "buy" rating and a $97.00 price objective for the company. Mizuho cut Rubrik from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $75.00 to $86.00 in a report on Thursday, May 15th. William Blair began coverage on Rubrik in a research note on Friday, February 7th. They set a "market perform" rating on the stock. Guggenheim upped their target price on Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Finally, Piper Sandler cut their price target on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Rubrik has a consensus rating of "Buy" and an average price target of $71.05.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 3,500 shares of Rubrik stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.81, for a total value of $293,335.00. Following the completion of the sale, the chief financial officer now owns 565,165 shares of the company's stock, valued at $47,366,478.65. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Wendell Thompson sold 9,009 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.18, for a total value of $569,188.62. Following the sale, the director now owns 998 shares of the company's stock, valued at approximately $63,053.64. This trade represents a 90.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 592,117 shares of company stock worth $40,192,998.

Rubrik Stock Performance

Shares of NYSE:RBRK traded up $2.27 during trading on Tuesday, reaching $88.99. 2,152,691 shares of the stock traded hands, compared to its average volume of 2,039,097. The stock has a market cap of $16.89 billion and a P/E ratio of -6.46. The stock has a 50-day moving average of $67.66 and a two-hundred day moving average of $64.62. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $89.13.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. The company's quarterly revenue was up 47.5% on a year-over-year basis. During the same period last year, the firm posted ($1.59) earnings per share. Sell-side analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Rubrik 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.