Rubrik Sees Unusually High Options Volume (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 11,684 put options on the company. This is an increase of 165% compared to the typical volume of 4,417 put options.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RBRK shares. KeyCorp reissued an "overweight" rating and set a $113.00 price target (up from $98.00) on shares of Rubrik in a research report on Friday, June 6th. Robert W. Baird boosted their price target on shares of Rubrik from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Roth Capital boosted their price target on shares of Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Guggenheim boosted their price target on shares of Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Piper Sandler cut their price target on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rubrik presently has an average rating of "Moderate Buy" and an average price target of $100.38.

Insider Buying and Selling

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $52.04, for a total value of $1,690,467.36. Following the completion of the transaction, the chief technology officer now directly owns 186,795 shares of the company's stock, valued at approximately $9,720,811.80. This represents a 14.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total transaction of $832,154.74. Following the completion of the transaction, the insider now directly owns 21,221 shares of the company's stock, valued at approximately $1,336,498.58. The trade was a 38.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,244,804 shares of company stock valued at $107,800,803. Company insiders own 32.38% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RBRK. Norges Bank bought a new position in Rubrik in the 4th quarter valued at about $277,395,000. Vanguard Group Inc. raised its holdings in Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after acquiring an additional 3,372,323 shares during the period. FMR LLC raised its holdings in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after acquiring an additional 2,065,444 shares during the period. Voloridge Investment Management LLC bought a new position in Rubrik in the 4th quarter valued at about $85,331,000. Finally, Bank of America Corp DE grew its position in shares of Rubrik by 1,305.1% during the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock worth $72,994,000 after purchasing an additional 1,037,319 shares in the last quarter. 49.54% of the stock is owned by institutional investors.

Rubrik Stock Down 1.6%

Shares of RBRK stock traded down $1.41 on Friday, reaching $85.76. The stock had a trading volume of 10,138,571 shares, compared to its average volume of 2,338,706. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of -30.30 and a beta of 0.87. Rubrik has a 12 month low of $28.34 and a 12 month high of $103.00. The firm's 50-day moving average is $81.71 and its two-hundred day moving average is $71.96.

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

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.