Lightspeed Management Company, Sells 16,984 Shares of Rubrik, Inc. (NYSE:RBRK) Stock

Rubrik, Inc. (NYSE:RBRK - Get Free Report) major shareholder Lightspeed Management Company, sold 16,984 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $89.47, for a total transaction of $1,519,558.48. Following the sale, the insider owned 59,182 shares of the company's stock, valued at $5,295,013.54. This trade represents a 22.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Lightspeed Management Company, also recently made the following trade(s):

• On Tuesday, April 15th, Lightspeed Management Company, sold 13,213 shares of Rubrik stock. The shares were sold at an average price of $62.98, for a total value of $832,154.74.

Rubrik Price Performance

RBRK traded up $2.74 during trading on Friday, hitting $88.32. 2,392,094 shares of the stock traded hands, compared to its average volume of 2,482,947. The business has a 50 day moving average price of $86.80 and a 200 day moving average price of $73.43. Rubrik, Inc. has a twelve month low of $28.60 and a twelve month high of $103.00. The company has a market cap of $17.09 billion, a price-to-earnings ratio of -31.21 and a beta of 0.46.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Mizuho cut Rubrik from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. Rosenblatt Securities raised their price target on shares of Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Robert W. Baird boosted their price objective on shares of Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Guggenheim increased their target price 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, KeyCorp reiterated an "overweight" rating and issued a $113.00 price target (up from $98.00) on shares of Rubrik 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Rubrik in the fourth quarter worth about $277,395,000. Vanguard Group Inc. increased its position in Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. FMR LLC lifted its stake 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 purchasing an additional 2,065,444 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Rubrik in the fourth quarter valued at approximately $85,331,000. Finally, Bank of America Corp DE boosted its position in Rubrik by 1,305.1% in the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock valued at $72,994,000 after buying an additional 1,037,319 shares in the last quarter. Institutional investors own 49.54% of the company's stock.

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.