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

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

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. CIBC boosted their price objective on Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research note on Monday. KeyCorp reaffirmed an "overweight" rating and set a $113.00 price target (up previously from $98.00) on shares of Rubrik in a report on Friday, June 6th. Wedbush increased their price objective on shares of Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday. Robert W. Baird raised their price objective on shares of Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Finally, Guggenheim upped their target price on shares of Rubrik from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Three equities 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.38.

Rubrik Stock Down 0.1%

The firm has a 50-day moving average price of $78.00 and a 200 day moving average price of $70.37. The firm has a market capitalization of $16.84 billion, a PE ratio of -31.36 and a beta of 0.87.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $278.48 million for the quarter, compared to analysts' expectations of $260.39 million. During the same period in the prior year, the company posted ($1.58) EPS. The firm's revenue was up 48.7% compared to the same quarter last year. Equities research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Hedge Funds Weigh In On Rubrik

Several hedge funds have recently made changes to their positions in the company. Voloridge Investment Management LLC acquired a new stake in shares of Rubrik in the 4th quarter valued at about $85,331,000. Green Alpha Advisors LLC lifted its stake in Rubrik by 53.4% in the first quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company's stock valued at $495,000 after buying an additional 2,824 shares during the last quarter. BNP Paribas Financial Markets raised its position in Rubrik by 2,899.7% in the 4th quarter. BNP Paribas Financial Markets now owns 313,765 shares of the company's stock valued at $20,508,000 after purchasing an additional 303,305 shares during the last quarter. FMR LLC boosted its stake in Rubrik by 172.6% during 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rubrik by 168.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company's stock worth $43,610,000 after buying an additional 418,457 shares during the period. Hedge funds and other 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.