Rubrik, Inc. (NYSE:RBRK) Director Sells $1,968,336.72 in Stock

Rubrik, Inc. (NYSE:RBRK) Director Enrique T. Salem sold 21,924 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $89.78, for a total value of $1,968,336.72. Following the completion of the sale, the director now owns 6,937 shares in the company, valued at approximately $622,803.86. This trade represents a 75.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rubrik Stock Performance

RBRK opened at $87.73 on Friday. The firm has a market cap of $16.98 billion, a P/E ratio of -31.00 and a beta of 0.87. Rubrik, Inc. has a 52-week low of $28.60 and a 52-week high of $103.00. The business’s fifty day moving average is $84.55 and its 200-day moving average is $72.95.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.17. The company had revenue of $278.48 million for the quarter, compared to analyst estimates of $260.39 million. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period last year, the company posted ($1.58) earnings per share. On average, research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RBRK has been the topic of a number of research analyst reports. KeyCorp restated an “overweight” rating and issued a $113.00 price target (up previously from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Cantor Fitzgerald increased their price target on Rubrik from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Truist Financial increased their price target on Rubrik from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Rosenblatt Securities increased their price objective on Rubrik from $82.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Rubrik in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Institutional Trading of Rubrik

Several large investors have recently modified their holdings of RBRK. Norges Bank acquired a new stake in shares of Rubrik during the 4th quarter worth $277,395,000. Vanguard Group Inc. boosted its stake in Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after buying an additional 3,372,323 shares in the last quarter. FMR LLC boosted its stake in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after buying an additional 2,065,444 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Rubrik in the fourth quarter valued at about $85,331,000. Finally, Bank of America Corp DE boosted its stake in Rubrik by 1,305.1% in the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock valued at $72,994,000 after buying an additional 1,037,319 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

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.