Rubrik (NYSE:RBRK) Shares Gap Down - Here's What Happened

Rubrik, Inc. (NYSE:RBRK - Get Free Report) gapped down before the market opened on Thursday . 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 trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Mizuho raised their price objective on shares of Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Wells Fargo & Company lifted their target price on Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Cantor Fitzgerald upped their price target on Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Citigroup lifted their price objective on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Friday. Finally, Truist Financial increased their target price on shares of Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $64.67.

Rubrik Stock Performance

The firm has a fifty day simple moving average of $59.71 and a two-hundred day simple moving average of $43.40.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 3,973 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the completion of the transaction, the chief financial officer now owns 345,374 shares of the company's stock, valued at approximately $24,984,355.16. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 626,055 shares of company stock worth $38,276,205.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in shares of Rubrik by 6.9% in the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company's stock worth $11,595,000 after acquiring an additional 23,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rubrik in the third quarter worth about $323,000. Diversified Trust Co purchased a new position in shares of Rubrik during the third quarter valued at approximately $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Rubrik by 24.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company's stock valued at $7,998,000 after buying an additional 49,372 shares during the period. Finally, Davidson Kempner Capital Management LP bought a new position in shares of Rubrik during the second quarter valued at approximately $2,606,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.