Rubrik, Inc. (NYSE:RBRK) Director Enrique T. Salem Sells 21,924 Shares

Rubrik, Inc. (NYSE:RBRK - Get Free Report) Director Enrique T. Salem sold 21,924 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $89.78, for a total transaction of $1,968,336.72. Following the completion of the sale, the director now directly owns 6,937 shares in the company, valued at $622,803.86. This represents a 75.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rubrik Stock Performance

Shares of NYSE:RBRK traded up $1.55 during mid-day trading on Thursday, hitting $92.11. 3,191,723 shares of the company traded hands, compared to its average volume of 2,377,431. The firm's 50 day simple moving average is $83.41 and its 200 day simple moving average is $72.65. Rubrik, Inc. has a 52-week low of $28.60 and a 52-week high of $103.00.

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

Institutional Investors Weigh In On Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Rubrik by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company's stock valued at $423,512,000 after buying an additional 616,917 shares during the last quarter. Norges Bank purchased a new position in Rubrik in the fourth quarter valued at about $277,395,000. FMR LLC grew its stake in Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. First Trust Advisors LP grew its stake in Rubrik by 26.6% during the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock valued at $206,278,000 after purchasing an additional 662,914 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Rubrik by 15.0% during the 1st quarter. Voya Investment Management LLC now owns 2,247,210 shares of the company's stock worth $137,035,000 after purchasing an additional 293,275 shares during the last quarter. Hedge funds and other institutional investors own 49.54% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wedbush increased their price target on shares of Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Wells Fargo & Company upped their price objective on Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Mizuho lowered Rubrik from an "outperform" rating to a "neutral" rating and increased their target price for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. UBS Group reiterated a "buy" rating on shares of Rubrik in a report on Friday, June 6th. Finally, Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Three investment 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 data from MarketBeat.com, Rubrik has an average rating of "Moderate Buy" and an average price target of $100.38.

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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