Rubrik, Inc. (NYSE:RBRK) Director Sells $1,968,336.72 in Stock

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

Rubrik Stock Down 4.7%

NYSE:RBRK traded down $4.37 on Friday, hitting $87.73. The stock had a trading volume of 16,422,810 shares, compared to its average volume of 2,444,265. The business's fifty day moving average is $84.55 and its 200 day moving average is $72.95. The company has a market cap of $16.98 billion, a PE ratio of -31.00 and a beta of 0.87. 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 issued its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.17. The company had revenue of $278.48 million during the quarter, compared to analysts' expectations of $260.39 million. The business's revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period last year, the company earned ($1.58) earnings per share. Equities analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RBRK shares. Wells Fargo & Company upped their price target on Rubrik from $80.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Rosenblatt Securities upped their price target on Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Oppenheimer reiterated a "market perform" rating on shares of Rubrik in a research report on Friday, June 6th. Guggenheim upped their target price on Rubrik from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald upped their target price on Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Three 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, Rubrik currently has an average rating of "Moderate Buy" and an average target price of $100.38.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Rubrik by 9.7% in the first quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company's stock worth $423,512,000 after purchasing an additional 616,917 shares during the last quarter. Norges Bank purchased a new stake in shares of Rubrik in the fourth quarter worth approximately $277,395,000. FMR LLC raised its stake in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock worth $206,278,000 after purchasing an additional 662,914 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Rubrik by 15.0% in the first 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. 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.