Rubrik (NYSE:RBRK) Shares Gap Down on Insider Selling

Rubrik, Inc. (NYSE:RBRK - Get Free Report) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $93.15, but opened at $90.19. Rubrik shares last traded at $87.45, with a volume of 1,754,100 shares.

Specifically, CRO Brian K. Mccarthy sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $100.18, for a total transaction of $2,504,500.00. Following the sale, the executive now directly owns 454,584 shares of the company's stock, valued at $45,540,225.12. This represents a 5.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of Rubrik stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $100.24, for a total transaction of $3,007,200.00. Following the sale, the chief financial officer now directly owns 521,665 shares of the company's stock, valued at approximately $52,291,699.60. This trade represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Yvonne Wassenaar sold 2,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $99.98, for a total value of $199,960.00. Following the completion of the sale, the director now directly owns 153 shares of the company's stock, valued at $15,296.94. The trade was a 92.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

RBRK has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective 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. Cantor Fitzgerald upped their price target on shares of Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. UBS Group reiterated a "buy" rating on shares of Rubrik in a research note on Friday. 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, Robert W. Baird boosted their target price on shares of Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $100.38.

Rubrik Price Performance

The company has a fifty day simple moving average of $76.53 and a 200-day simple moving average of $69.97. The company has a market cap of $16.93 billion, a P/E ratio of -31.55 and a beta of 0.87.

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

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new position in Rubrik in the 4th quarter worth $28,000. PNC Financial Services Group Inc. acquired a new position in Rubrik in the first quarter worth about $30,000. Summit Securities Group LLC acquired a new position in shares of Rubrik in the 1st quarter worth approximately $31,000. Global Retirement Partners LLC lifted its holdings in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares during the period. Finally, Comerica Bank boosted its position in Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company's stock valued at $36,000 after buying an additional 395 shares in the last quarter. Institutional investors and hedge funds 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.