Insider Selling: Rubrik, Inc. (NYSE:RBRK) CTO Sells $3,819,415.68 in Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 43,128 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $88.56, for a total value of $3,819,415.68. Following the transaction, the chief technology officer now owns 38,122 shares in the company, valued at approximately $3,376,084.32. This represents a 53.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arvind Nithrakashyap also recently made the following trade(s):

• On Thursday, June 5th, Arvind Nithrakashyap sold 32,477 shares of Rubrik stock. The stock was sold at an average price of $99.83, for a total transaction of $3,242,178.91.
• On Tuesday, June 3rd, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $98.85, for a total transaction of $3,211,043.40.
• On Wednesday, May 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $75.20, for a total transaction of $2,442,796.80.
• On Monday, May 5th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $75.03, for a total transaction of $2,437,274.52.
• On Wednesday, April 9th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The stock was sold at an average price of $56.61, for a total value of $1,838,919.24.
• On Monday, April 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $52.04, for a total value of $1,690,467.36.

Rubrik Trading Down 1.6%

NYSE RBRK opened at $85.76 on Monday. Rubrik, Inc. has a 12-month low of $28.35 and a 12-month high of $103.00. The company has a fifty day simple moving average of $81.71 and a two-hundred day simple moving average of $72.22. The stock has a market cap of $16.59 billion, a P/E ratio of -30.30 and a beta of 0.86.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. During the same period in the previous year, the company earned ($1.58) earnings per share. Rubrik’s revenue was up 48.7% on a year-over-year basis. As a group, sell-side analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently modified their holdings of RBRK. Rhumbline Advisers acquired a new stake in Rubrik during the fourth quarter worth about $64,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Rubrik during the 4th quarter worth approximately $3,103,000. Global Retirement Partners LLC grew its stake in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the period. Legacy Capital Group California Inc. increased its holdings in shares of Rubrik by 140.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 181,117 shares of the company’s stock valued at $11,838,000 after purchasing an additional 105,877 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Rubrik in the 4th quarter valued at $648,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Analysts Set New Price Targets

RBRK has been the subject of a number of analyst reports. Wall Street Zen upgraded Rubrik from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. UBS Group reissued a “buy” rating on shares of Rubrik in a research report on Friday, June 6th. Guggenheim raised their price target on shares of Rubrik from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, June 6th. KeyCorp reiterated an “overweight” rating and set a $113.00 price objective (up previously from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Finally, Wells Fargo & Company increased their target price on shares of Rubrik from $80.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.