Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap Sells 32,484 Shares

Rubrik, Inc. (NYSE:RBRK - Get Free Report) CTO Arvind Nithrakashyap sold 32,484 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.61, for a total transaction of $1,838,919.24. Following the transaction, the chief technology officer now directly owns 121,827 shares of the company's stock, valued at $6,896,626.47. The trade was a 21.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Arvind Nithrakashyap also recently made the following trade(s):

• On Monday, April 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The stock was sold at an average price of $52.04, for a total value of $1,690,467.36.
• On Wednesday, March 5th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $61.59, for a total value of $2,000,689.56.
• On Monday, March 3rd, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $63.77, for a total value of $2,071,568.45.
• On Wednesday, February 5th, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The shares were sold at an average price of $74.85, for a total transaction of $2,431,502.25.
• On Monday, February 3rd, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $70.85, for a total transaction of $2,301,562.25.
• On Tuesday, January 14th, Arvind Nithrakashyap sold 227,596 shares of Rubrik stock. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44.

Rubrik Stock Performance

Shares of RBRK traded up $0.60 during mid-day trading on Friday, hitting $58.95. 2,989,381 shares of the stock were exchanged, compared to its average volume of 2,045,458. The firm has a 50-day moving average of $65.71 and a two-hundred day moving average of $58.34. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00. The company has a market cap of $11.19 billion and a PE ratio of -4.28.

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Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $233.13 million. The firm's revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.59) EPS. On average, sell-side analysts predict that Rubrik, Inc. will post -7.66 EPS for the current year.

Institutional Investors Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBRK. Charles Schwab Investment Management Inc. lifted its position in Rubrik by 134.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company's stock worth $10,462,000 after buying an additional 186,485 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Rubrik in the third quarter valued at $265,000. BNP Paribas Financial Markets bought a new stake in shares of Rubrik in the 3rd quarter worth about $336,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rubrik by 24.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company's stock worth $7,998,000 after purchasing an additional 49,372 shares during the period. Finally, Stifel Financial Corp grew its holdings in Rubrik by 407.7% during the 3rd quarter. Stifel Financial Corp now owns 68,566 shares of the company's stock valued at $2,204,000 after purchasing an additional 55,062 shares during the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. BMO Capital Markets boosted their price target on Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th. Wells Fargo & Company lifted their price objective on Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Finally, Piper Sandler reduced their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $69.17.

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.