Rubrik, Inc. (NYSE:RBRK) Short Interest Update

Rubrik, Inc. (NYSE:RBRK) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 3,550,000 shares, a drop of 16.5% from the November 15th total of 4,250,000 shares. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 6.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald lifted their target price on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Citigroup lifted their price objective on Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler reiterated an “overweight” rating and set a $72.00 target price (up from $42.00) on shares of Rubrik in a research report on Friday, December 6th. FBN Securities began coverage on shares of Rubrik in a research report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, KeyCorp increased their price objective on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $61.88.

Insider Buying and Selling at Rubrik

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $64.37, for a total transaction of $1,609,250.00. Following the completion of the transaction, the executive now owns 312,545 shares in the company, valued at approximately $20,118,521.65. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of Rubrik stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the completion of the sale, the chief financial officer now owns 493,360 shares in the company, valued at approximately $15,496,437.60. This represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 560,779 shares of company stock valued at $22,317,557 over the last ninety days.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently made changes to their positions in RBRK. Brown Brothers Harriman & Co. acquired a new stake in shares of Rubrik in the 3rd quarter worth $25,000. KBC Group NV acquired a new position in Rubrik during the 3rd quarter valued at about $72,000. Quent Capital LLC purchased a new stake in Rubrik in the third quarter valued at about $192,000. Mount Yale Investment Advisors LLC acquired a new stake in Rubrik in the third quarter worth about $208,000. Finally, Sei Investments Co. purchased a new stake in shares of Rubrik during the second quarter worth about $235,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Price Performance

NYSE:RBRK opened at $72.18 on Monday. Rubrik has a 52 week low of $28.34 and a 52 week high of $74.99. The firm has a 50 day moving average of $46.55 and a 200 day moving average of $37.54.

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.