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

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Rubrik, Inc. (NYSE:RBRK) by 6.0% during the 1st quarter, Holdings Channel reports. The firm owned 515,882 shares of the company’s stock after selling 33,058 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Rubrik were worth $31,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers bought a new position in Rubrik during the fourth quarter worth $64,000. US Bancorp DE increased its holdings in shares of Rubrik by 1,329.9% during the fourth quarter. US Bancorp DE now owns 19,547 shares of the company’s stock valued at $1,278,000 after acquiring an additional 18,180 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Rubrik during the fourth quarter valued at approximately $219,000. State of Michigan Retirement System acquired a new position in shares of Rubrik during the fourth quarter worth approximately $2,979,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rubrik by 24.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 406,581 shares of the company’s stock worth $26,574,000 after purchasing an additional 81,161 shares in the last quarter. Institutional investors own 49.54% of the company’s stock.

Insider Activity at Rubrik

In related news, CFO Kiran Kumar Choudary sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $100.24, for a total value of $3,007,200.00. Following the transaction, the chief financial officer owned 521,665 shares in the company, valued at approximately $52,291,699.60. This represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $71.44, for a total value of $1,786,000.00. Following the transaction, the executive directly owned 554,217 shares of the company’s stock, valued at approximately $39,593,262.48. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,270,187 shares of company stock valued at $111,079,005 over the last quarter. Corporate insiders own 32.38% of the company’s stock.

Rubrik Stock Up 0.4%

RBRK stock opened at $85.52 on Thursday. The firm has a market cap of $16.55 billion, a PE ratio of -30.22 and a beta of 0.46. The business has a 50 day moving average of $86.02 and a 200-day moving average of $73.23. Rubrik, Inc. has a 12-month low of $28.60 and a 12-month high of $103.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. During the same quarter last year, the company earned ($1.58) EPS. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. On average, research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RBRK. 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. Roth Capital lifted their price objective on shares of Rubrik from $97.00 to $107.00 and gave the company a “buy” rating in a report on Friday, June 6th. Guggenheim upped their target price on shares of Rubrik from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, June 6th. KeyCorp reaffirmed an “overweight” rating and issued a $113.00 price target (up previously from $98.00) on shares of Rubrik in a research report on Friday, June 6th. Finally, Wedbush boosted their price objective on Rubrik from $80.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.38.

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.