Insider Selling: Rubrik, Inc. (NYSE:RBRK) CRO Sells 85,001 Shares of Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 85,001 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 $5,953,470.04. Following the completion of the transaction, the executive now directly owns 433,909 shares in the company, valued at approximately $30,390,986.36. The trade was a 16.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rubrik Stock Up 0.9 %

RBRK opened at $74.15 on Wednesday. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $80.00. The business has a 50 day moving average of $69.18 and a 200-day moving average of $55.65. The stock has a market cap of $13.74 billion and a price-to-earnings ratio of -5.38.

Rubrik (NYSE:RBRK) last announced 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 business had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. During the same period last year, the company earned ($1.59) earnings per share. Rubrik’s revenue was up 47.5% on a year-over-year basis. As a group, analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RBRK shares. Barclays boosted their price objective on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. 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. Wedbush lifted their target price on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Citigroup upped their price target on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Robert W. Baird lowered their price objective on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $70.00.

Institutional Trading of Rubrik

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