Investors Purchase Large Volume of Put Options on Rubrik (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK - Get Free Report) saw some unusual options trading activity on Monday. Traders bought 9,271 put options on the company. This represents an increase of 120% compared to the typical volume of 4,211 put options.

Analysts Set New Price Targets

RBRK has been the subject of several research reports. Piper Sandler increased their target price on Rubrik from $83.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 price objective on shares of Rubrik in a research report on Friday, March 14th. Citigroup boosted their target price on shares of Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, January 17th. William Blair initiated coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a "market perform" rating for the company. Finally, Wedbush boosted their price objective on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $70.00.

Rubrik Price Performance

Shares of NYSE RBRK traded down $5.68 during mid-day trading on Friday, reaching $51.77. The company's stock had a trading volume of 2,625,038 shares, compared to its average volume of 2,015,234. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00. The stock has a fifty day moving average of $68.30 and a two-hundred day moving average of $56.83. The firm has a market capitalization of $9.82 billion and a PE ratio of -3.76.

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Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analysts' expectations of $233.13 million. During the same quarter in the prior year, the firm posted ($1.59) EPS. Rubrik's revenue was up 47.5% on a year-over-year basis. Analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,485 shares of Rubrik stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $74.85, for a total value of $2,431,502.25. Following the sale, the chief technology officer now owns 219,279 shares in the company, valued at $16,413,033.15. The trade was a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares of the company's stock, valued at approximately $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 799,635 shares of company stock worth $53,440,849 in the last three months.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in Rubrik during the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC grew its holdings in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC bought a new stake in Rubrik in the fourth quarter worth $39,000. Point72 Hong Kong Ltd purchased a new stake in Rubrik during the fourth quarter valued at $47,000. Finally, Quarry LP bought a new position in Rubrik during the fourth quarter valued at $48,000. 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.