Rubrik (NYSE:RBRK) Trading Down 4.7% - Should You Sell?

Rubrik, Inc. (NYSE:RBRK - Get Free Report) was down 4.7% during trading on Thursday . The stock traded as low as $86.64 and last traded at $87.28. Approximately 1,429,098 shares were traded during trading, a decline of 52% from the average daily volume of 2,991,350 shares. The stock had previously closed at $91.59.

Analyst Ratings Changes

Several research analysts have recently commented on RBRK shares. Roth Capital lifted their target price on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Oppenheimer reiterated a "market perform" rating on shares of Rubrik in a research note on Friday, June 6th. Rosenblatt Securities boosted their price target on Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Cantor Fitzgerald boosted their price target on Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.38.

Rubrik Trading Down 1.9%

The business has a 50-day moving average price of $88.46 and a two-hundred day moving average price of $74.22. The stock has a market capitalization of $16.35 billion, a P/E ratio of -29.86 and a beta of 0.46.

Rubrik (NYSE:RBRK - Get Free Report) last released 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 company had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. During the same quarter in the previous year, the company posted ($1.58) earnings per share. The business's revenue was up 48.7% compared to the same quarter last year. On average, sell-side analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Arvind Nithrakashyap sold 43,128 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $88.56, for a total transaction of $3,819,415.68. Following the completion of the transaction, the chief technology officer owned 38,122 shares of the company's stock, valued at approximately $3,376,084.32. The trade was a 53.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique T. Salem sold 700,000 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $91.09, for a total value of $63,763,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,244,728 shares of company stock worth $110,956,092 over the last 90 days. Corporate insiders own 32.38% of the company's stock.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently modified their holdings of RBRK. Vanguard Group Inc. increased its holdings in Rubrik by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company's stock worth $423,512,000 after purchasing an additional 616,917 shares in the last quarter. Norges Bank acquired a new position in Rubrik in the 4th quarter worth about $277,395,000. FMR LLC increased its holdings in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. First Trust Advisors LP increased its holdings in Rubrik by 26.6% in the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock worth $206,278,000 after purchasing an additional 662,914 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Rubrik by 15.0% in the 1st quarter. Voya Investment Management LLC now owns 2,247,210 shares of the company's stock worth $137,035,000 after purchasing an additional 293,275 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.