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

Rubrik, Inc. (NYSE:RBRK) shares were down 2.5% on Tuesday following insider selling activity. The stock 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 directly owns 343,774 shares of the company’s stock, valued at approximately $23,386,945.22. This represents a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RBRK shares. Cantor Fitzgerald lifted their target price on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial raised their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Mizuho boosted their price objective on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Wells Fargo & Company increased their price target on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Guggenheim upped their price target on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Rubrik has an average rating of “Buy” and a consensus target price of $64.11.

Rubrik Stock Performance

The business has a 50 day moving average price of $53.37 and a 200-day moving average price of $40.37.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new position in Rubrik in the 3rd quarter valued at about $25,000. KBC Group NV acquired a new position in shares of Rubrik in the third quarter valued at approximately $72,000. Quent Capital LLC bought a new position in shares of Rubrik during the third quarter worth approximately $192,000. Mount Yale Investment Advisors LLC bought a new stake in Rubrik in the 3rd quarter valued at $208,000. Finally, Whalen Wealth Management Inc. bought a new stake in Rubrik in the 3rd quarter valued at $243,000. 49.54% of the stock is owned by institutional investors.

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.