Short Interest in Rubrik, Inc. (NYSE:RBRK) Grows By 75.0%

Rubrik, Inc. (NYSE:RBRK) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 8,820,000 shares, a growth of 75.0% from the December 15th total of 5,040,000 shares. Based on an average daily volume of 2,450,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 12.2% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, CTO Arvind Nithrakashyap sold 32,499 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $67.66, for a total transaction of $2,198,882.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $39.40, for a total transaction of $59,100.00. Following the completion of the sale, the chief financial officer now owns 423,060 shares of the company’s stock, valued at approximately $16,668,564. The trade was a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 626,055 shares of company stock worth $38,276,205.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the business. Dragoneer Investment Group LLC purchased a new position in shares of Rubrik in the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC purchased a new position in Rubrik in the 3rd quarter valued at approximately $44,418,000. Point72 Asset Management L.P. acquired a new position in shares of Rubrik in the third quarter worth $42,247,000. PointState Capital LP purchased a new stake in shares of Rubrik during the third quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC raised its stake in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after acquiring an additional 1,131,360 shares in the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Rubrik Price Performance

RBRK traded down $0.56 during mid-day trading on Friday, hitting $67.68. 4,409,924 shares of the stock were exchanged, compared to its average volume of 2,608,940. The firm’s fifty day moving average is $60.17 and its two-hundred day moving average is $43.66. Rubrik has a 1-year low of $28.34 and a 1-year high of $75.79.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer assumed coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Robert W. Baird raised their price objective on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Wedbush boosted their target price on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $64.67.

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.