Rubrik (NYSE:RBRK) Trading Down 7.3% – Should You Sell?

Rubrik, Inc. (NYSE:RBRK) traded down 7.3% during mid-day trading on Monday . The stock traded as low as $58.84 and last traded at $59.03. 952,033 shares traded hands during trading, a decline of 52% from the average session volume of 1,992,379 shares. The stock had previously closed at $63.66.

Analysts Set New Price Targets

Several brokerages have recently commented on RBRK. Barclays lifted their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. William Blair initiated coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Wells Fargo & Company lifted their price target on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Wedbush increased 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. Finally, Mizuho lifted their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Two equities research 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 company’s stock. According to MarketBeat, Rubrik has a consensus rating of “Buy” and an average target price of $70.00.

Rubrik Price Performance

The stock has a market cap of $11.13 billion and a price-to-earnings ratio of -4.36. The stock’s 50 day simple moving average is $69.09 and its two-hundred day simple moving average is $56.36.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share 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 analyst estimates of $233.13 million. During the same quarter in the prior year, the business posted ($1.59) EPS. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Buying and Selling

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $67.06, for a total transaction of $1,676,500.00. Following the sale, the executive now owns 321,560 shares of the company’s stock, valued at $21,563,813.60. This represents a 7.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total transaction of $193,275.00. Following the completion of the sale, the director now owns 153 shares of the company’s stock, valued at $11,828.43. The trade was a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 792,426 shares of company stock worth $53,187,894 in the last 90 days.

Institutional Trading of Rubrik

Several hedge funds have recently modified their holdings of RBRK. Wealthcare Advisory Partners LLC lifted its holdings in Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Rubrik during the 4th quarter worth about $28,000. KBC Group NV boosted its stake in shares of Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after purchasing an additional 430 shares during the last quarter. Global Retirement Partners LLC grew its position 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 buying an additional 500 shares during the period. Finally, Nemes Rush Group LLC bought a new stake in shares of Rubrik during the fourth quarter worth approximately $39,000. 49.54% of the stock is owned by institutional investors.

About Rubrik

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.