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

Northern Trust Corp grew its stake in shares of Rubrik, Inc. (NYSE:RBRK - Free Report) by 47.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,276 shares of the company's stock after acquiring an additional 61,857 shares during the period. Northern Trust Corp owned 0.10% of Rubrik worth $12,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. Norges Bank bought a new stake in Rubrik in the fourth quarter worth $277,395,000. FMR LLC boosted its holdings in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. First Trust Advisors LP boosted its holdings in Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock worth $206,278,000 after purchasing an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Rubrik by 27.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock worth $129,359,000 after purchasing an additional 427,149 shares in the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rubrik news, Director John Wendell Thompson sold 9,009 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.18, for a total transaction of $569,188.62. Following the sale, the director now directly owns 998 shares of the company's stock, valued at approximately $63,053.64. This represents a 90.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 3,500 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.81, for a total transaction of $293,335.00. Following the sale, the chief financial officer now directly owns 565,165 shares in the company, valued at $47,366,478.65. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 592,117 shares of company stock valued at $40,192,998 over the last quarter. Corporate insiders own 32.38% of the company's stock.

Rubrik Trading Up 3.9%

NYSE:RBRK traded up $3.38 during mid-day trading on Thursday, hitting $91.13. The company's stock had a trading volume of 2,417,521 shares, compared to its average volume of 2,055,360. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $92.31. The company has a market capitalization of $17.29 billion and a price-to-earnings ratio of -6.61. The stock has a fifty day moving average of $69.09 and a 200-day moving average of $65.29.

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

Analysts Set New Price Targets

A number of research firms have weighed in on RBRK. Roth Capital began coverage on shares of Rubrik in a research report on Thursday, May 15th. They set a "buy" rating and a $97.00 target price for the company. William Blair began coverage on shares of Rubrik in a research report on Friday, February 7th. They set a "market perform" rating for the company. UBS Group reissued a "buy" rating on shares of Rubrik in a research report on Tuesday, April 29th. Cantor Fitzgerald boosted their target price on shares of Rubrik from $85.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Finally, Piper Sandler cut their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $76.13.

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.