Kiran Kumar Choudary Sells 87,971 Shares of Rubrik, Inc. (NYSE:RBRK) Stock

Rubrik, Inc. (NYSE:RBRK) CFO Kiran Kumar Choudary sold 87,971 shares of Rubrik stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $70.04, for a total transaction of $6,161,488.84. Following the completion of the transaction, the chief financial officer now owns 413,458 shares of the company’s stock, valued at $28,958,598.32. This trade represents a 17.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Kiran Kumar Choudary also recently made the following trade(s):

• On Wednesday, January 15th, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The shares were sold at an average price of $66.52, for a total transaction of $119,736.00.
• On Wednesday, January 8th, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The shares were sold at an average price of $62.60, for a total value of $112,680.00.
• On Thursday, January 2nd, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The stock was sold at an average price of $65.72, for a total value of $118,296.00.
• On Friday, December 27th, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The shares were sold at an average price of $68.03, for a total value of $122,454.00.

Rubrik Stock Down 7.8 %

Shares of RBRK stock opened at $68.46 on Thursday. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $80.00. The stock’s 50-day moving average price is $69.21 and its 200 day moving average price is $55.74. The stock has a market capitalization of $12.68 billion and a PE ratio of -4.97.

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

Institutional Trading of Rubrik

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC increased its stake in shares of Rubrik by 302.5% during the third quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after acquiring an additional 40,036 shares during the period. Charles Schwab Investment Management Inc. increased its position in Rubrik by 134.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock worth $10,462,000 after purchasing an additional 186,485 shares during the period. Alpha DNA Investment Management LLC purchased a new position in shares of Rubrik during the 3rd quarter worth approximately $411,000. Summit Trail Advisors LLC acquired a new stake in shares of Rubrik in the 3rd quarter valued at approximately $625,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik in the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RBRK shares. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday, March 12th. Wells Fargo & Company lifted their price objective on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Barclays increased their target price on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Mizuho raised their price target on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, Guggenheim upped their price objective on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Rubrik presently has a consensus rating of “Buy” and an average target price of $70.00.

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.