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

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

Analyst Upgrades and Downgrades

RBRK has been the subject of several recent analyst reports. Rosenblatt Securities increased their price objective on Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. KeyCorp restated an "overweight" rating and set a $113.00 target price (up previously from $98.00) on shares of Rubrik in a report on Friday, June 6th. Oppenheimer reiterated a "market perform" rating on shares of Rubrik in a report on Friday, June 6th. Guggenheim raised their target price on Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, CIBC raised their target price on Rubrik from $110.00 to $125.00 and gave the stock an "outperformer" rating in a report on Monday, June 9th. Three investment 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.38.

Rubrik Stock Performance

The stock has a market cap of $16.35 billion, a price-to-earnings ratio of -29.86 and a beta of 0.46. The company has a 50-day simple moving average of $88.23 and a two-hundred day simple moving average of $74.02.

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

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 2,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $88.21, for a total transaction of $176,420.00. Following the completion of the sale, the director directly owned 2,855 shares in the company, valued at approximately $251,839.55. This represents a 41.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $85.97, for a total value of $2,149,250.00. Following the sale, the executive owned 431,052 shares of the company's stock, valued at approximately $37,057,540.44. The trade was a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,241,228 shares of company stock worth $110,649,702 over the last three months. 32.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently modified their holdings of RBRK. Amundi increased its stake in shares of Rubrik by 0.7% in the first quarter. Amundi now owns 37,116 shares of the company's stock valued at $2,132,000 after buying an additional 262 shares during the period. NewEdge Advisors LLC increased its stake in shares of Rubrik by 31.6% in the first quarter. NewEdge Advisors LLC now owns 1,250 shares of the company's stock valued at $76,000 after buying an additional 300 shares during the period. Comerica Bank increased its stake in shares of 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 during the period. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the fourth quarter valued at about $28,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Rubrik in the first quarter valued at about $30,000. Institutional investors and hedge funds 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.