Rubrik (NYSE:RBRK) CTO Sells 12,820 Shares of Company Stock

Key Points

• Rubrik CTO Arvind Nithrakashyap sold 12,820 shares at an average price of $124.14, generating approximately $1.59 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 272,538 shares.
• Rubrik shares fell 1.6% to $123.76, but remain near their 52-week high of $127.90. The company recently exceeded quarterly earnings and revenue expectations, with revenue up 43.9% year over year.
• Wall Street remains broadly bullish: 28 analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and a $114.42 price target. Institutional investors own approximately 49.54% of Rubrik’s shares.

Rubrik, Inc. (NYSE:RBRK - Get Free Report) CTO Arvind Nithrakashyap sold 12,820 shares of the business's stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $124.14, for a total transaction of $1,591,474.80. Following the transaction, the chief technology officer owned 272,538 shares in the company, valued at $33,832,867.32. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Arvind Nithrakashyap sold 12,820 shares of Rubrik stock. The shares were sold at an average price of $122.64, for a total transaction of $1,572,244.80.
• On Thursday, September 10th, Arvind Nithrakashyap sold 12,820 shares of Rubrik stock. The shares were sold at an average price of $90.41, for a total transaction of $1,159,056.20.
• On Tuesday, September 8th, Arvind Nithrakashyap sold 12,820 shares of Rubrik stock. The stock was sold at an average price of $91.33, for a total value of $1,170,850.60.
• On Wednesday, August 5th, Arvind Nithrakashyap sold 12,820 shares of Rubrik stock. The shares were sold at an average price of $83.71, for a total value of $1,073,162.20.
• On Monday, August 3rd, Arvind Nithrakashyap sold 12,820 shares of Rubrik stock. The shares were sold at an average price of $74.04, for a total value of $949,192.80.

Rubrik Trading Down 1.6%

Shares of RBRK traded down $2.04 during mid-day trading on Wednesday, reaching $123.76. The company's stock had a trading volume of 2,356,621 shares, compared to its average volume of 3,696,619. Rubrik, Inc. has a 1-year low of $42.25 and a 1-year high of $127.90. The business has a 50-day simple moving average of $98.68 and a two-hundred day simple moving average of $77.14. The stock has a market cap of $25.66 billion, a P/E ratio of -98.22 and a beta of 1.12.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, August 27th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.16. The business had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The firm's revenue was up 43.9% compared to the same quarter last year. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. Research analysts anticipate that Rubrik, Inc. will post -1.19 EPS for the current year.

Institutional Investors Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pictet Asset Management Holding SA increased its position in Rubrik by 104.1% during the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock worth $162,572,000 after acquiring an additional 1,696,342 shares during the period. Congress Asset Management Co. raised its stake in Rubrik by 32.6% in the 3rd quarter. Congress Asset Management Co. now owns 715,550 shares of the company's stock worth $81,909,000 after purchasing an additional 175,866 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Rubrik by 11.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 280,448 shares of the company's stock valued at $22,514,000 after purchasing an additional 28,056 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Rubrik by 17.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 699,389 shares of the company's stock valued at $34,249,000 after purchasing an additional 103,538 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Rubrik by 36.6% during the 1st quarter. Cetera Investment Advisers now owns 87,025 shares of the company's stock worth $4,262,000 after purchasing an additional 23,320 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RBRK shares. Telsey Advisory Group set a $120.00 price objective on shares of Rubrik in a research report on Friday, August 28th. BMO Capital Markets lifted their target price on shares of Rubrik from $98.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 28th. The Goldman Sachs Group reiterated a "buy" rating on shares of Rubrik in a research note on Wednesday, August 19th. Piper Sandler increased their price target on shares of Rubrik from $91.00 to $114.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Rubrik in a research report on Monday, August 31st. Twenty-eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $114.42.

Rubrik Company Profile

Rubrik, Inc is a cybersecurity and data management company that helps organizations protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to support data backup, recovery, security monitoring and cyber resilience.

The company's primary offering is Rubrik Security Cloud, a cloud-delivered platform that provides data protection and security capabilities, including policy-based backup, immutable data protection, ransomware recovery, threat monitoring and centralized management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.