Rubrik Stocks Decline After Major Block Trade

Shares of Rubrik, a company specialized in data security, fell by 3.4% following a significant block trade that took place early in the day.

A total of 1.16 million shares, representing 1.3% of the company's outstanding shares, were traded at a market value of $81.4 million. The trade occurred at 8 AM New York time.

The shares were sold at $70.25 each, reflecting a 5.3% discount compared to Thursday's closing price.

Notably, Rubrik's shares had risen by 5.4% on Thursday. The traded block of shares accounted for 43% of Rubrik's 20-day average trading volume.