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

Rubrik, Inc. (NYSE:RBRK - Get Free Report) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $74.28, but opened at $70.06. Rubrik shares last traded at $69.06, with a volume of 867,509 shares.

Specifically, CFO Kiran Kumar Choudary sold 87,971 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $70.04, for a total value of $6,161,488.84. Following the transaction, the chief financial officer now directly owns 413,458 shares of the company's stock, valued at approximately $28,958,598.32. This trade represents a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Brian K. Mccarthy sold 85,001 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $70.04, for a total transaction of $5,953,470.04. Following the completion of the transaction, the executive now owns 433,909 shares in the company, valued at $30,390,986.36. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Yvonne Wassenaar sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total transaction of $210,090.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at approximately $10,714.59. The trade was a 95.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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Analyst Upgrades and Downgrades

RBRK has been the subject of a number of recent research reports. 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. KeyCorp cut their price target on Rubrik from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Rosenblatt Securities upgraded 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. Truist Financial lifted their price objective on Rubrik from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Citigroup increased their target price on shares of Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rubrik has an average rating of "Buy" and a consensus price target of $70.00.

Rubrik Stock Performance

The firm has a market capitalization of $11.79 billion and a PE ratio of -4.62. The company has a fifty day moving average price of $69.09 and a 200-day moving average price of $56.20.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates 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 quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.59) earnings per share. On average, equities analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Institutional Investors Weigh In On Rubrik

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after buying an additional 3,372,323 shares during the last quarter. Norges Bank purchased a new stake in shares of Rubrik in the fourth quarter valued at $277,395,000. FMR LLC lifted its holdings in shares of Rubrik by 172.6% in the 4th 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 last quarter. First Trust Advisors LP boosted its stake in shares of Rubrik by 26.6% during the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock worth $206,278,000 after purchasing an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Rubrik by 27.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock valued at $129,359,000 after purchasing an additional 427,149 shares during the last quarter. 49.54% of the stock is owned by institutional investors.

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.