Insider Selling: Rubrik, Inc. (NYSE:RBRK) Director Sells 700,000 Shares of Stock

Rubrik, Inc. (NYSE:RBRK - Get Free Report) Director Enrique T. Salem sold 700,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $91.09, for a total value of $63,763,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rubrik Stock Performance

RBRK stock opened at $92.08 on Tuesday. The company has a market capitalization of $17.82 billion, a PE ratio of -32.54 and a beta of 0.87. Rubrik, Inc. has a one year low of $28.34 and a one year high of $103.00. The company's 50 day moving average price is $79.54 and its two-hundred day moving average price is $71.23.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to analysts' expectations of $260.39 million. The business's quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.58) earnings per share. On average, research analysts predict that Rubrik, Inc. will post -7.66 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on RBRK shares. Guggenheim increased their price target on Rubrik from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Rubrik from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Cantor Fitzgerald boosted their price target on shares of Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Truist Financial upped their price objective on shares of Rubrik from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, KeyCorp restated an "overweight" rating and issued a $113.00 target price (up previously from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rubrik has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

Hedge Funds Weigh In On Rubrik

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Rubrik during the 4th quarter valued at $28,000. PNC Financial Services Group Inc. purchased a new position in shares of Rubrik during the first quarter valued at about $30,000. Summit Securities Group LLC bought a new position in Rubrik in the first quarter worth about $31,000. Global Retirement Partners LLC raised its stake in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after buying an additional 500 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company's stock worth $36,000 after buying an additional 395 shares during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Company Profile

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.

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