Insider Selling: Rubrik, Inc. (NYSE:RBRK) CRO Sells $1,505,500.00 in Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $60.22, for a total value of $1,505,500.00. Following the completion of the transaction, the executive now directly owns 579,217 shares in the company, valued at approximately $34,880,447.74. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rubrik Trading Down 0.9 %

NYSE RBRK traded down $0.55 during trading on Tuesday, hitting $60.43. 2,062,202 shares of the company’s stock were exchanged, compared to its average volume of 2,010,069. The company has a market cap of $11.19 billion and a PE ratio of -4.39. Rubrik, Inc. has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock’s 50 day moving average price is $68.74 and its two-hundred day moving average price is $56.78.

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

Institutional Investors Weigh In On Rubrik

Several hedge funds have recently modified their holdings of the company. Wealthcare Advisory Partners LLC raised its position in Rubrik by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after purchasing an additional 300 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Rubrik in the fourth quarter valued at approximately $28,000. KBC Group NV raised its holdings in Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after buying an additional 430 shares during the last quarter. Global Retirement Partners LLC boosted its position in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after buying an additional 500 shares during the period. Finally, Nemes Rush Group LLC bought a new stake in Rubrik during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RBRK. BMO Capital Markets boosted their target price on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They issued a “market perform” rating for the company. Wedbush increased their target price on shares of Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Mizuho lifted their price target on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird cut their price target on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $70.00.

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.