Rubrik (NYSE:RBRK) Stock Price Down 2.5% Following Insider Selling

Rubrik, Inc. (NYSE:RBRK) dropped 2.5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $65.05 and last traded at $66.53. Approximately 435,912 shares were traded during trading, a decline of 76% from the average daily volume of 1,786,413 shares. The stock had previously closed at $68.27.

Specifically, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $68.03, for a total value of $122,454.00. Following the completion of the sale, the chief financial officer now owns 343,774 shares in the company, valued at approximately $23,386,945.22. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Guggenheim upped their price target on Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Cantor Fitzgerald upped their target price on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Rosenblatt Securities started coverage on shares of Rubrik in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. CIBC boosted their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Finally, Truist Financial upped their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $64.11.

Rubrik Price Performance

The firm has a fifty day moving average of $54.45 and a 200-day moving average of $40.78.

Hedge Funds Weigh In On Rubrik

Large investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the third quarter worth about $25,000. KBC Group NV purchased a new stake in shares of Rubrik during the third quarter valued at $72,000. Quent Capital LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at $192,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at $208,000. Finally, Whalen Wealth Management Inc. acquired a new position in Rubrik in the 3rd quarter worth approximately $243,000. 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.