Rubrik, Inc. (NYSE:RBRK) CTO Sells $2,442,796.80 in Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $75.20, for a total transaction of $2,442,796.80. Following the completion of the sale, the chief technology officer now owns 24,375 shares of the company’s stock, valued at approximately $1,833,000. This trade represents a 57.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Arvind Nithrakashyap also recently made the following trade(s):

• On Monday, May 5th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $75.03, for a total value of $2,437,274.52.
• On Wednesday, April 9th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The stock was sold at an average price of $56.61, for a total value of $1,838,919.24.
• On Monday, April 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $52.04, for a total value of $1,690,467.36.
• On Wednesday, March 5th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $61.59, for a total transaction of $2,000,689.56.
• On Monday, March 3rd, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $63.77, for a total transaction of $2,071,568.45.

Rubrik Price Performance

Shares of RBRK opened at $76.87 on Friday. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $80.00. The company has a market capitalization of $14.59 billion and a P/E ratio of -5.58. The firm’s 50 day simple moving average is $64.44 and its 200 day simple moving average is $62.49.

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

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Vanguard Group Inc. lifted its position in Rubrik by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company’s stock worth $423,512,000 after buying an additional 616,917 shares during the last quarter. Norges Bank bought a new stake in shares of Rubrik in the 4th quarter worth approximately $277,395,000. FMR LLC boosted its stake in shares of Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. First Trust Advisors LP lifted its stake in Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock worth $206,278,000 after purchasing an additional 662,914 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Rubrik by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after buying an additional 427,149 shares during the period. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on RBRK. William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They issued a “market perform” rating on the stock. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Wednesday, March 12th. Robert W. Baird decreased their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Guggenheim boosted their price objective on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Finally, KeyCorp reduced their target price on shares of Rubrik from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $68.83.

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.