Insider Selling: Rubrik, Inc. (NYSE:RBRK) Major Shareholder Sells 13,213 Shares of Stock

Rubrik, Inc. (NYSE:RBRK - Get Free Report) major shareholder Lightspeed Management Company, sold 13,213 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total transaction of $832,154.74. Following the transaction, the insider now directly owns 21,221 shares in the company, valued at approximately $1,336,498.58. This trade represents a 38.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Rubrik Trading Down 3.4 %

Shares of NYSE RBRK traded down $2.10 during midday trading on Monday, reaching $59.51. The company had a trading volume of 2,495,308 shares, compared to its average volume of 2,054,141. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00. The business's 50-day simple moving average is $64.01 and its 200 day simple moving average is $59.56. The stock has a market cap of $11.29 billion and a P/E ratio of -4.32.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. Rubrik's revenue was up 47.5% compared to the same quarter last year. During the same period last year, the business earned ($1.59) EPS. Analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on RBRK. Guggenheim raised their price target on Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Rosenblatt Securities raised shares of Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target for the company in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th. Finally, Citigroup increased their target price on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $68.83.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently bought and sold shares of RBRK. Norges Bank acquired a new stake in shares of Rubrik in the fourth quarter worth $277,395,000. Vanguard Group Inc. raised its stake in shares of Rubrik by 114.1% during 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. FMR LLC grew its holdings in Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after acquiring an additional 2,065,444 shares during the period. Voloridge Investment Management LLC purchased a new position in Rubrik during the fourth quarter valued at approximately $85,331,000. Finally, Bank of America Corp DE lifted its holdings in Rubrik by 1,305.1% in the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock valued at $72,994,000 after acquiring an additional 1,037,319 shares during the period. Hedge funds and other institutional investors own 49.54% of the company's stock.

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.