Insider Selling: Rubrik, Inc. (NYSE:RBRK) CRO Sells 25,000 Shares of Stock

Rubrik, Inc. (NYSE:RBRK - Get Free Report) CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $64.37, for a total value of $1,609,250.00. Following the completion of the transaction, the executive now directly owns 312,545 shares of the company's stock, valued at approximately $20,118,521.65. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rubrik Stock Up 20.3 %

Shares of NYSE:RBRK traded up $10.88 during trading on Friday, reaching $64.54. 17,244,195 shares of the stock were exchanged, compared to its average volume of 1,587,887. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $72.66. The firm's 50-day moving average price is $42.00 and its 200 day moving average price is $35.98.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. Equities analysts forecast that Rubrik, Inc. will post -8.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC acquired a new stake in shares of Rubrik in the second quarter valued at about $47,523,000. Champlain Investment Partners LLC acquired a new position in Rubrik during the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. purchased a new position in Rubrik in the 3rd quarter worth approximately $42,247,000. PointState Capital LP acquired a new stake in Rubrik in the third quarter valued at approximately $40,466,000. Finally, Institutional Venture Management XV LLC raised its stake in shares of Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock valued at $37,378,000 after purchasing an additional 1,131,360 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RBRK. FBN Securities assumed coverage on shares of Rubrik in a research note on Monday, September 30th. They issued an "outperform" rating and a $40.00 target price for the company. 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. Wells Fargo & Company raised their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an "overweight" rating in a research report on Friday. CIBC boosted their price target on Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a report on Tuesday, September 10th. Finally, Piper Sandler restated an "overweight" rating and set a $72.00 price objective (up previously from $42.00) on shares of Rubrik in a report on Friday. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $60.59.

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.

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