Rubrik (NYSE:RBRK) Trading Down 5.1% Following Insider Selling

Shares of Rubrik, Inc. (NYSE:RBRK - Get Free Report) fell 5.1% during trading on Monday after an insider sold shares in the company. The stock traded as low as $94.01 and last traded at $92.93. 1,153,974 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 2,161,868 shares. The stock had previously closed at $97.91.

Specifically, Director Yvonne Wassenaar sold 2,000 shares of the firm'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 sale, the director now owns 153 shares in the company, valued at approximately $15,296.94. This trade represents a 92.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,477 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $99.83, for a total transaction of $3,242,178.91. The disclosure for this sale can be found here. In other news, CTO Arvind Nithrakashyap sold 32,484 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $98.85, for a total transaction of $3,211,043.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RBRK shares. Guggenheim boosted their price target on Rubrik from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen upgraded Rubrik from a "hold" rating to a "buy" rating in a research report on Saturday. KeyCorp raised their target price on Rubrik from $98.00 to $113.00 and gave the stock an "overweight" rating in a research report on Friday. Truist Financial boosted their price target on shares of Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a report on Friday. Finally, Wells Fargo & Company raised their price objective on shares of Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.38.

Rubrik Price Performance

The business has a 50 day simple moving average of $75.32 and a 200 day simple moving average of $69.56. The company has a market cap of $17.77 billion, a price-to-earnings ratio of -33.09 and a beta of 0.87.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping 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 quarter last year, the company earned ($1.58) EPS. The firm's quarterly revenue was up 48.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rubrik

Large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in Rubrik by 204.1% in the 1st quarter. Rhumbline Advisers now owns 2,980 shares of the company's stock worth $182,000 after purchasing an additional 2,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Rubrik by 4,007.4% in the 1st quarter. Acadian Asset Management LLC now owns 318,238 shares of the company's stock valued at $19,393,000 after buying an additional 310,490 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Rubrik by 7.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 715,953 shares of the company's stock worth $43,659,000 after acquiring an additional 48,724 shares during the last quarter. Voleon Capital Management LP lifted its stake in shares of Rubrik by 50.7% during the first quarter. Voleon Capital Management LP now owns 186,205 shares of the company's stock valued at $11,355,000 after acquiring an additional 62,627 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Rubrik by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company's stock valued at $57,343,000 after acquiring an additional 236,181 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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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