Rubrik (NYSE:RBRK) Trading Down 2.5% After Insider Selling

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price fell 2.5% on Tuesday after an insider sold shares in the company. The stock traded as low as $65.05 and last traded at $66.53. 435,912 shares were traded during trading, a decline of 76% from the average session volume of 1,786,413 shares. The stock had previously closed at $68.27.

Specifically, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $68.03, for a total value of $122,454.00. Following the completion of the sale, the chief financial officer now directly owns 343,774 shares in the company, valued at $23,386,945.22. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RBRK. Wedbush raised their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Guggenheim raised their price target on Rubrik from $52.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Robert W. Baird upped their price objective on Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, December 5th. Truist Financial increased their target price on Rubrik from $50.00 to $75.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Oppenheimer started coverage on Rubrik in a research note on Wednesday, November 13th. They set a "market perform" rating for the company. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $64.11.

Rubrik Stock Down 4.3 %

The firm's fifty day moving average is $53.37 and its two-hundred day moving average is $40.37.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently made changes to their positions in RBRK. Brown Brothers Harriman & Co. bought a new position in shares of Rubrik during the third quarter worth $25,000. KBC Group NV purchased a new stake in Rubrik in the 3rd quarter worth $72,000. Quent Capital LLC bought a new position in shares of Rubrik during the 3rd quarter valued at about $192,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik during the third quarter valued at about $208,000. Finally, Sei Investments Co. bought a new stake in shares of Rubrik in the second quarter worth about $235,000. 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.