Investors Purchase Large Volume of Rubrik Put Options (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 11,684 put options on the stock. This represents an increase of approximately 165% compared to the typical daily volume of 4,417 put options.

Rubrik Stock Down 2.3%

NYSE RBRK traded down $2.03 on Wednesday, reaching $87.10. The company had a trading volume of 2,250,870 shares, compared to its average volume of 2,713,175. The firm's 50 day moving average price is $80.09 and its 200 day moving average price is $71.35. Rubrik has a 12 month low of $28.34 and a 12 month high of $103.00. The stock has a market capitalization of $16.85 billion, a PE ratio of -30.81 and a beta of 0.87.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. During the same period last year, the firm posted ($1.58) earnings per share. The company's revenue for the quarter was up 48.7% compared to the same quarter last year. On average, research analysts expect that Rubrik will post -7.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RBRK shares. Piper Sandler lowered their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Guggenheim upped their price target on shares of Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. CIBC raised their price target on shares of Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research report on Monday, June 9th. Roth Capital boosted their price target on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Truist Financial increased their price objective on shares of Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $100.38.

Insider Activity

In other Rubrik news, Director Enrique T. Salem sold 700,000 shares of the business's 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total value of $124,060.00. Following the transaction, the chief financial officer now directly owns 614,798 shares of the company's stock, valued at $38,135,919.94. The trade was a 0.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,363,109 shares of company stock worth $115,074,453. 32.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently bought and sold shares of RBRK. Amundi increased its stake in Rubrik by 0.7% in the first quarter. Amundi now owns 37,116 shares of the company's stock worth $2,132,000 after purchasing an additional 262 shares during the period. NewEdge Advisors LLC boosted its position in Rubrik by 31.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company's stock valued at $76,000 after buying an additional 300 shares during the period. Comerica Bank boosted its position in Rubrik by 209.0% in the 1st quarter. Comerica Bank now owns 584 shares of the company's stock valued at $36,000 after buying an additional 395 shares during the period. Russell Investments Group Ltd. bought a new position in Rubrik in the 4th quarter worth about $28,000. Finally, Global Retirement Partners LLC increased its position in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after acquiring an additional 500 shares during the period. Institutional investors own 49.54% of the company's stock.

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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