State Street Corp Raises Stake in Rubrik, Inc. (NYSE:RBRK)

State Street Corp increased its stake in Rubrik, Inc. (NYSE:RBRK) by 368.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 421,096 shares of the company’s stock after purchasing an additional 331,296 shares during the quarter. State Street Corp owned 0.23% of Rubrik worth $13,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC purchased a new stake in shares of Rubrik during the 2nd quarter worth approximately $503,000. Natixis Advisors LLC acquired a new position in shares of Rubrik during the 2nd quarter worth $406,000. Roubaix Capital LLC purchased a new stake in shares of Rubrik in the 2nd quarter worth about $2,115,000. Liberty Street Advisors Inc. acquired a new stake in Rubrik in the 2nd quarter valued at about $4,117,000. Finally, PFG Investments LLC acquired a new position in Rubrik during the second quarter worth about $242,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Insider Activity

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the sale, the executive now owns 437,545 shares in the company, valued at approximately $13,673,281.25. This trade represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 3,973 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $287,406.82. Following the transaction, the chief financial officer now directly owns 345,374 shares in the company, valued at $24,984,355.16. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 336,641 shares of company stock valued at $16,482,308.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RBRK shares. FBN Securities assumed coverage on Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective for the company. Robert W. Baird increased their price objective on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. BMO Capital Markets boosted their target price on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Piper Sandler raised their price target on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $64.11.

Rubrik Stock Up 1.1 %

Shares of RBRK stock opened at $67.93 on Thursday. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $75.79. The firm’s 50 day moving average price is $51.62 and its two-hundred day moving average price is $39.60.

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.