Rubrik (NYSE:RBRK) Shares Gap Down After Insider Selling

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $66.73, but opened at $65.02. Rubrik shares last traded at $65.40, with a volume of 771,566 shares.

Specifically, CTO Arvind Nithrakashyap sold 227,596 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now owns 153 shares of the company's stock, valued at approximately $10,342.80. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Rubrik from $72.00 to $83.00 and gave the stock an "overweight" rating in a research report on Thursday, December 19th. 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 report on Friday, December 6th. Wells Fargo & Company raised their price objective on shares of Rubrik from $40.00 to $76.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday. Finally, Rosenblatt Securities assumed coverage on Rubrik in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target for the company. Two research 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 company's stock. According to data from MarketBeat, Rubrik currently has a consensus rating of "Buy" and a consensus target price of $64.67.

Rubrik Trading Down 0.8 %

The company's 50 day moving average price is $60.17 and its 200-day moving average price is $43.85.

Institutional Investors Weigh In On Rubrik

A number of institutional investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. purchased a new stake in Rubrik during the third quarter worth approximately $25,000. KBC Group NV acquired a new position in shares of Rubrik during the 3rd quarter valued at $72,000. Quent Capital LLC purchased a new stake in Rubrik during the 3rd quarter worth $192,000. Shikiar Asset Management Inc. acquired a new stake in Rubrik in the 4th quarter valued at $203,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in Rubrik in the third quarter valued at about $208,000. 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.