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

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s stock price gapped down before the market opened on Tuesday following insider selling activity. 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 trading hands.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Roth Capital raised their price objective on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Piper Sandler reduced their price target on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer reissued a "market perform" rating on shares of Rubrik in a report on Friday, June 6th. BMO Capital Markets reaffirmed an "outperform" rating and set a $110.00 target price (up from $77.00) on shares of Rubrik in a report on Friday, June 6th. Finally, Cantor Fitzgerald increased their price target on Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Three 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

Rubrik Price Performance

The business has a fifty day moving average price of $78.75 and a 200 day moving average price of $70.64. The company has a market capitalization of $17.10 billion, a price-to-earnings ratio of -31.85 and a beta of 0.87.

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

Institutional Trading of Rubrik

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