Rubrik (NYSE:RBRK) Stock Price Down 9.2% - Here's Why

Key Points

• Rubrik, Inc. stock price fell by 9.2% in one trading session, dropping from a previous close of $94.95 to $86.26, with a significant decline in trading volume.
• Several analysts have revised their price targets for Rubrik, with ratings ranging from "buy" to "outperformer" and consensus target price set at $100.38.
• The company reported a 48.7% year-over-year revenue increase for the last quarter, with earnings per share of ($0.15), surpassing analyst expectations.

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price dropped 9.2% during trading on Friday . The company traded as low as $84.14 and last traded at $86.26. Approximately 1,524,232 shares changed hands during trading, a decline of 50% from the average daily volume of 3,028,359 shares. The stock had previously closed at $94.95.

Wall Street Analyst Weigh In

RBRK has been the subject of a number of analyst reports. CIBC lifted their price objective on Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a research note on Monday, June 9th. Truist Financial lifted their target price on Rubrik from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Wedbush lifted their target price on Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. KeyCorp reiterated an "overweight" rating and set a $113.00 target price (up from $98.00) on shares of Rubrik in a report on Friday, June 6th. Finally, Roth Capital lifted their target price on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.38.

Rubrik Stock Down 6.6%

The firm has a fifty day moving average of $90.05 and a 200-day moving average of $76.23. The firm has a market cap of $17.16 billion, a P/E ratio of -31.37 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) 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 last year, the company posted ($1.58) earnings per share. The business's revenue for the quarter was up 48.7% on a year-over-year basis. On average, equities analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Transactions at Rubrik

In other news, Director John Wendell Thompson sold 9,009 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $85.96, for a total transaction of $774,413.64. Following the transaction, the director owned 998 shares in the company, valued at approximately $85,788.08. This trade represents a 90.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yvonne Wassenaar sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $88.21, for a total value of $176,420.00. Following the transaction, the director owned 2,855 shares in the company, valued at approximately $251,839.55. This trade represents a 41.19% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,175,506 shares of company stock valued at $106,223,064. Company insiders own 32.38% of the company's stock.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently made changes to their positions in the company. Sei Investments Co. grew its position in Rubrik by 98.5% during the fourth quarter. Sei Investments Co. now owns 18,511 shares of the company's stock worth $1,210,000 after buying an additional 9,187 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Rubrik by 32.9% during the 4th quarter. LPL Financial LLC now owns 95,271 shares of the company's stock valued at $6,227,000 after acquiring an additional 23,587 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 buying an additional 3,372,323 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Rubrik by 434.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 335,238 shares of the company's stock worth $21,911,000 after buying an additional 272,482 shares during the period. Finally, Nemes Rush Group LLC acquired a new position in Rubrik during the 4th quarter worth about $39,000. 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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