Rubrik (NYSE:RBRK) Shares Down 2.7% - What's Next?

Key Points

• Rubrik's shares fell by 2.7% during mid-day trading, dropping from a previous close of $81.46 to $79.22.
• Several brokerages have recently changed their ratings on Rubrik stock, with Wall Street Zen downgrading it to a "hold," while other firms like Rosenblatt and CIBC have set increasing price targets.
• Rubrik reported earnings of ($0.03) per share for the quarter, exceeding analysts' expectations and showing a revenue increase of 44.9% year-over-year, amounting to $309.86 million.

Rubrik, Inc. (NYSE:RBRK - Get Free Report) shares dropped 2.7% during mid-day trading on Wednesday . The company traded as low as $77.98 and last traded at $79.22. Approximately 4,402,475 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 3,274,568 shares. The stock had previously closed at $81.46.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RBRK. Wall Street Zen cut Rubrik from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Rosenblatt Securities increased their price target on shares of Rubrik from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. CIBC increased their price target on shares of Rubrik from $125.00 to $130.00 and gave the stock an "outperformer" rating in a research report on Thursday, September 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $115.00 price target on shares of Rubrik in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company increased their price target on shares of Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Rubrik currently has a consensus rating of "Moderate Buy" and an average target price of $104.38.

Rubrik Stock Down 2.7%

The firm has a market cap of $15.64 billion, a price-to-earnings ratio of -33.86 and a beta of 0.43. The stock has a fifty day moving average price of $86.24 and a 200-day moving average price of $80.37.

Rubrik (NYSE:RBRK - Get Free Report) last released its earnings results on Tuesday, September 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $0.31. The company had revenue of $309.86 million during the quarter, compared to analyst estimates of $282.25 million. During the same period in the previous year, the firm posted ($0.40) EPS. The company's revenue for the quarter was up 44.9% on a year-over-year basis. Rubrik has set its Q3 2026 guidance at -0.180--0.160 EPS. FY 2026 guidance at -0.500--0.440 EPS. As a group, research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Transactions at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 40,170 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $74.21, for a total transaction of $2,981,015.70. Following the sale, the chief technology officer directly owned 333,528 shares in the company, valued at approximately $24,751,112.88. The trade was a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 4,670 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $74.21, for a total value of $346,560.70. Following the sale, the executive owned 407,632 shares in the company, valued at approximately $30,250,370.72. The trade was a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,358 shares of company stock valued at $17,461,977 in the last three months. 32.38% of the stock is owned by company insiders.

Institutional Trading of Rubrik

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its position in Rubrik by 1,030.8% during the second quarter. Allworth Financial LP now owns 294 shares of the company's stock worth $26,000 after purchasing an additional 268 shares in the last quarter. ST Germain D J Co. Inc. purchased a new stake in shares of Rubrik in the second quarter valued at $27,000. Beacon Capital Management LLC purchased a new stake in shares of Rubrik in the second quarter valued at $29,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Rubrik in the second quarter valued at $36,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Rubrik in the second quarter valued at $41,000. 49.54% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.