Rubrik, Inc. (NYSE:RBRK) Director Ravi Mhatre Sells 16,984 Shares

Rubrik, Inc. (NYSE:RBRK - Get Free Report) Director Ravi Mhatre sold 16,984 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.47, for a total value of $1,519,558.48. Following the sale, the director directly owned 81,842 shares of the company's stock, valued at $7,322,403.74. This represents a 17.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Rubrik Stock Up 0.4%

NYSE:RBRK traded up $0.34 during midday trading on Wednesday, hitting $85.52. The stock had a trading volume of 3,549,135 shares, compared to its average volume of 2,478,015. The stock has a 50-day moving average of $85.62 and a 200 day moving average of $73.15. Rubrik, Inc. has a one year low of $28.60 and a one year high of $103.00.

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

Analysts Set New Price Targets

RBRK has been the topic of several research analyst reports. Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Cantor Fitzgerald boosted their price objective on Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Piper Sandler decreased their target price on Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird boosted their target price on Rubrik from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $110.00 price objective (up from $77.00) 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. Based on data from MarketBeat, Rubrik currently has an average rating of "Moderate Buy" and an average price target of $100.38.

Institutional Trading of Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi raised its stake in Rubrik by 0.7% in the 1st quarter. Amundi now owns 37,116 shares of the company's stock worth $2,132,000 after acquiring an additional 262 shares during the last quarter. NewEdge Advisors LLC raised its stake in Rubrik by 31.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company's stock worth $76,000 after acquiring an additional 300 shares during the last quarter. Comerica Bank raised its stake in Rubrik by 209.0% in the 1st quarter. Comerica Bank now owns 584 shares of the company's stock worth $36,000 after acquiring an additional 395 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Rubrik in the 4th quarter worth $28,000. Finally, PNC Financial Services Group Inc. purchased a new position in Rubrik in the 1st quarter worth $30,000. Hedge funds and other 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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