Insider Selling: Rubrik, Inc. (NYSE:RBRK) CRO Sells 25,000 Shares of Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the executive now directly owns 331,043 shares in the company, valued at approximately $23,173,010. This represents a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rubrik Stock Down 1.2 %

Shares of RBRK stock opened at $70.00 on Wednesday. The firm has a market capitalization of $12.97 billion and a price-to-earnings ratio of -5.08. The stock has a fifty day moving average of $68.43 and a 200 day moving average of $54.29. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $80.00.

Rubrik (NYSE:RBRK) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. During the same period last year, the company posted ($1.59) earnings per share. The company’s revenue for the quarter was up 47.5% on a year-over-year basis. Equities research analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik in the 3rd quarter valued at approximately $25,000. Russell Investments Group Ltd. purchased a new position in Rubrik during the fourth quarter valued at $28,000. Global Retirement Partners LLC boosted its holdings in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after buying an additional 500 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Rubrik in the 4th quarter worth about $39,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Rubrik in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Guggenheim increased their price objective on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Rubrik in a report on Friday, March 14th. Truist Financial increased their target price on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wedbush boosted their price target on shares of Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price 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.