Insider Selling: Rubrik, Inc. (NYSE:RBRK) CRO Sells 85,001 Shares of Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 85,001 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $5,953,470.04. Following the completion of the sale, the executive now owns 433,909 shares of the company’s stock, valued at $30,390,986.36. This represents a 16.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rubrik Stock Up 0.9 %

Shares of RBRK stock traded up $0.69 during trading on Tuesday, reaching $74.15. The company’s stock had a trading volume of 2,535,563 shares, compared to its average volume of 1,936,387. The company has a market cap of $13.74 billion and a price-to-earnings ratio of -5.38. Rubrik, Inc. has a one year low of $28.34 and a one year high of $80.00. The business has a fifty day moving average price of $68.99 and a 200-day moving average price of $55.35.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. Rubrik’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.59) earnings per share. Research analysts anticipate that Rubrik, Inc. will post -7.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho upped their price target on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Robert W. Baird lowered their target price on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Barclays increased their target price on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. KeyCorp decreased their price target on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Finally, Piper Sandler raised their price objective on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Rubrik presently has an average rating of “Buy” and a consensus target price of $70.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after buying an additional 3,372,323 shares during the last quarter. Norges Bank bought a new stake in Rubrik during the fourth quarter worth $277,395,000. FMR LLC lifted its stake in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after acquiring an additional 2,065,444 shares during the last quarter. First Trust Advisors LP grew its position in shares of Rubrik by 26.6% in the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock valued at $206,278,000 after acquiring an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after acquiring an additional 427,149 shares during the period. 49.54% of the stock is currently owned by institutional investors.

About Rubrik

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.