Rubrik (NYSE:RBRK) Shares Gap Down After Insider Selling

Rubrik, Inc. (NYSE:RBRK)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $74.19, but opened at $71.14. Rubrik shares last traded at $71.51, with a volume of 2,786,508 shares.

Specifically, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $69.70, for a total value of $125,460.00. Following the transaction, the chief financial officer now directly owns 342,160 shares of the company’s stock, valued at $23,848,552. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $72.00 target price (up from $42.00) on shares of Rubrik in a research note on Friday, December 6th. Cantor Fitzgerald boosted their price objective on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Mizuho raised their target price on shares of Rubrik from $47.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, FBN Securities began coverage on Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $61.88.

Rubrik Stock Down 3.8 %

The firm’s fifty day simple moving average is $45.77 and its 200-day simple moving average is $37.20.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. As a group, sell-side analysts predict that Rubrik, Inc. will post -7.6 EPS for the current fiscal year.

Institutional Trading of Rubrik

Several institutional investors have recently added to or reduced their stakes in RBRK. Garden State Investment Advisory Services LLC bought a new position in shares of Rubrik during the third quarter valued at $394,000. Barclays PLC lifted its stake in Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after acquiring an additional 7,029 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rubrik by 133.3% during the 3rd quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock valued at $18,290,000 after acquiring an additional 324,951 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Rubrik in the third quarter worth approximately $571,000. Finally, State Street Corp raised its holdings in shares of Rubrik by 368.9% during the third quarter. State Street Corp now owns 421,096 shares of the company’s stock valued at $13,538,000 after purchasing an additional 331,296 shares during the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Rubrik Company 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.