Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap Sells 32,485 Shares

Rubrik, Inc. (NYSE:RBRK - Get Free Report) CTO Arvind Nithrakashyap sold 32,485 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $74.85, for a total value of $2,431,502.25. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at $16,413,033.15. The trade was a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $2,301,562.25.
• On Tuesday, January 14th, Arvind Nithrakashyap sold 227,596 shares of Rubrik stock. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44.
• On Wednesday, January 8th, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $63.46, for a total transaction of $2,061,498.10.
• On Monday, January 6th, Arvind Nithrakashyap sold 32,499 shares of Rubrik stock. The stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34.

Rubrik Stock Performance

Shares of NYSE RBRK traded down $0.82 during trading hours on Friday, reaching $74.52. 1,789,861 shares of the stock traded hands, compared to its average volume of 1,958,402. The company's 50-day simple moving average is $67.78 and its two-hundred day simple moving average is $47.86. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $79.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RBRK shares. Guggenheim lifted their target price on Rubrik from $52.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Rosenblatt Securities assumed coverage on Rubrik in a research report on Tuesday, December 17th. They set a "neutral" rating and a $77.00 price target for the company. Cantor Fitzgerald upped their price target 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. Wells Fargo & Company boosted their target price on Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, Robert W. Baird raised their target price on shares of Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Rubrik presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.67.

Hedge Funds Weigh In On Rubrik

A number of institutional investors and hedge funds have recently made changes to their positions in RBRK. Champlain Investment Partners LLC bought a new position in shares of Rubrik in the third quarter worth about $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the third quarter valued at $42,247,000. PointState Capital LP acquired a new position in shares of Rubrik in the third quarter valued at about $40,466,000. Institutional Venture Management XV LLC increased its holdings in Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock worth $37,378,000 after buying an additional 1,131,360 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at $35,359,000. Hedge funds and other institutional investors own 49.54% of the company's stock.

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.