Rubrik, Inc.’s Lock-Up Period Will Expire on October 22nd (NYSE:RBRK)

Rubrik’s (NYSE:RBRK) lock-up period will expire on Tuesday, October 22nd. Rubrik had issued 23,500,000 shares in its initial public offering on April 25th. The total size of the offering was $752,000,000 based on an initial share price of $32.00. After the expiration of Rubrik’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RBRK shares. Robert W. Baird started coverage on shares of Rubrik in a research note on Monday, July 15th. They set an “outperform” rating and a $42.00 price objective on the stock. BMO Capital Markets reduced their price objective on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Guggenheim reiterated a “buy” rating and set a $48.00 price objective on shares of Rubrik in a research note on Tuesday, June 25th. CIBC increased their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price objective on shares of Rubrik in a research note on Tuesday, September 10th. Sixteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Rubrik presently has a consensus rating of “Buy” and an average target price of $44.65.

Rubrik Price Performance

NYSE RBRK opened at $39.54 on Friday. The company has a fifty day simple moving average of $33.98. Rubrik has a 12-month low of $28.34 and a 12-month high of $41.33.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. On average, sell-side analysts expect that Rubrik will post -7.95 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now owns 462,545 shares in the company, valued at approximately $14,486,909.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 368,329 shares of company stock valued at $12,241,803.

Institutional Trading of Rubrik

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dragoneer Investment Group LLC purchased a new stake in shares of Rubrik during the second quarter valued at approximately $47,523,000. Clearbridge Investments LLC purchased a new stake in shares of Rubrik during the second quarter valued at approximately $32,888,000. EPIQ Capital Group LLC purchased a new stake in shares of Rubrik during the second quarter valued at approximately $15,111,000. SG Americas Securities LLC purchased a new stake in shares of Rubrik during the third quarter valued at approximately $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Rubrik during the second quarter valued at approximately $7,665,000.

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.