Insider Selling: Rubrik, Inc. (NYSE:RBRK) Major Shareholder Sells 13,213 Shares of Stock

Rubrik, Inc. (NYSE:RBRK) major shareholder Lightspeed Management Company, sold 13,213 shares of Rubrik stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total transaction of $832,154.74. Following the transaction, the insider now owns 21,221 shares in the company, valued at approximately $1,336,498.58. The trade was a 38.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rubrik Trading Down 1.3 %

Shares of Rubrik stock opened at $61.48 on Friday. The firm has a fifty day simple moving average of $64.37 and a 200-day simple moving average of $59.19. The stock has a market capitalization of $11.67 billion and a price-to-earnings ratio of -4.46. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $80.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter in the prior year, the company posted ($1.59) earnings per share. The business’s revenue was up 47.5% compared to the same quarter last year. As a group, research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RBRK. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Rubrik in a report on Friday, March 14th. KeyCorp dropped their target price on Rubrik from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday. Guggenheim increased their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. BMO Capital Markets boosted their price objective on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Finally, Robert W. Baird cut their target price on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $68.83.

Institutional Investors Weigh In On Rubrik

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