Rubrik (NYSE:RBRK) Shares Gap Down After Insider Selling

Rubrik, Inc. (NYSE:RBRK)’s share price gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $74.28, but opened at $70.06. Rubrik shares last traded at $69.06, with a volume of 867,509 shares changing hands.

Specifically, CFO Kiran Kumar Choudary sold 87,971 shares of Rubrik stock in a transaction on Friday, March 21st. The shares were sold at an average price of $70.04, for a total transaction of $6,161,488.84. Following the completion of the sale, the chief financial officer now owns 413,458 shares of the company’s stock, valued at $28,958,598.32. This trade represents a 17.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 85,001 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $5,953,470.04. Following the completion of the transaction, the executive now owns 433,909 shares in the company, valued at $30,390,986.36. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Yvonne Wassenaar sold 3,000 shares of Rubrik stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $70.03, for a total transaction of $210,090.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at $10,714.59. The trade was a 95.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RBRK. Wedbush lifted their target price on shares of Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Guggenheim lifted their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Barclays increased their target price on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. William Blair started coverage on Rubrik in a report on Friday, February 7th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets upped their target price on Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $70.00.

Rubrik Price Performance

The firm has a 50 day moving average of $69.18 and a 200-day moving average of $55.65. The stock has a market capitalization of $12.80 billion and a P/E ratio of -5.01.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. The company’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.59) EPS. As a group, equities analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Institutional Trading of Rubrik

Several institutional investors have recently made changes to their positions in RBRK. California State Teachers Retirement System lifted its stake in Rubrik by 22.1% during the fourth quarter. California State Teachers Retirement System now owns 56,279 shares of the company’s stock worth $3,678,000 after purchasing an additional 10,191 shares during the period. Centaurus Financial Inc. bought a new position in shares of Rubrik during the 4th quarter worth approximately $115,000. PharVision Advisers LLC bought a new position in shares of Rubrik during the 4th quarter worth approximately $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Rubrik by 168.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company’s stock valued at $43,610,000 after buying an additional 418,457 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Rubrik in the fourth quarter valued at $85,331,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.