Mitsubishi UFJ Asset Management Co. Ltd. Sells 39,300 Shares of Rubrik, Inc. (NYSE:RBRK)

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in shares of Rubrik, Inc. (NYSE:RBRK) by 26.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,200 shares of the company’s stock after selling 39,300 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.06% of Rubrik worth $7,439,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares during the period. Rhumbline Advisers bought a new stake in shares of Rubrik during the 4th quarter worth $64,000. Geneos Wealth Management Inc. purchased a new position in shares of Rubrik in the 4th quarter worth about $70,000. KBC Group NV grew its position in Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after buying an additional 430 shares during the period. Finally, Shikiar Asset Management Inc. purchased a new stake in Rubrik during the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RBRK. Barclays increased their target price on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Wells Fargo & Company raised their target price on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Mizuho boosted their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Guggenheim lifted their price objective on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Finally, KeyCorp lowered their price objective on Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $70.00.

Insider Activity

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $65.72, for a total transaction of $118,296.00. Following the transaction, the chief financial officer now directly owns 342,974 shares in the company, valued at $22,540,251.28. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the completion of the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at approximately $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 792,426 shares of company stock worth $53,187,894.

Rubrik Stock Down 4.2 %

Shares of NYSE RBRK opened at $60.96 on Tuesday. The stock’s 50-day simple moving average is $68.95 and its two-hundred day simple moving average is $56.57. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $80.00. The firm has a market capitalization of $11.29 billion and a P/E ratio of -4.42.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share 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 the consensus estimate of $233.13 million. During the same quarter last year, the business posted ($1.59) EPS. The company’s revenue was up 47.5% compared to the same quarter last year. As a group, research analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current fiscal 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.