Rubrik shares fall after large block trade

Shares of Rubrik, a company specializing in data security, experienced a 3.4% decline after a significant block trade occurred early in the day.

A total of 1.16 million shares, representing 1.3% of the company’s float, were traded with a market value of $81.4 million. The transaction took place at 8 a.m. New York time.

The shares were sold at $70.25 each, which is a 5.3% discount compared to the closing price on Thursday.

Notably, on Thursday, Rubrik’s stock had seen an increase of 5.4%. The block of shares traded accounts for 43% of Rubrik’s 20-day average trading volume.

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