Rubrik (NYSE:RBRK) Stock Price Down 5.5% After Insider Selling

Rubrik, Inc. (NYSE:RBRK - Get Free Report) shares traded down 5.5% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $87.25 and last traded at $87.06. 6,868,734 shares traded hands during trading, an increase of 186% from the average session volume of 2,398,743 shares. The stock had previously closed at $92.10.

Specifically, CFO Kiran Kumar Choudary sold 3,500 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $91.00, for a total transaction of $318,500.00. Following the sale, the chief financial officer owned 523,095 shares in the company, valued at $47,601,645. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique T. Salem sold 21,924 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $89.78, for a total value of $1,968,336.72. Following the transaction, the director directly owned 6,937 shares of the company's stock, valued at approximately $622,803.86. This represents a 75.96% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RBRK shares. Rosenblatt Securities raised their price target on Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wedbush raised their price target on Rubrik from $80.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Roth Capital lifted their price objective on Rubrik from $97.00 to $107.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald raised their price target on shares of Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, UBS Group reissued a "buy" rating on shares of Rubrik in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.38.

Rubrik Stock Up 2.5%

The stock has a market cap of $17.33 billion, a PE ratio of -31.65 and a beta of 0.86. The company's fifty day moving average is $85.15 and its 200 day moving average is $73.06.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) EPS 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 analyst estimates of $260.39 million. During the same quarter in the prior year, the firm earned ($1.58) EPS. The company's revenue for the quarter was up 48.7% compared to the same quarter last year. Equities analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Institutional Trading of Rubrik

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in Rubrik in the fourth quarter valued at $28,000. PNC Financial Services Group Inc. bought a new stake in Rubrik in the first quarter valued at about $30,000. Summit Securities Group LLC acquired a new stake in Rubrik during the first quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its holdings in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after buying an additional 500 shares during the last quarter. Finally, Comerica Bank grew its position in shares of Rubrik by 209.0% in the 1st quarter. Comerica Bank now owns 584 shares of the company's stock worth $36,000 after acquiring an additional 395 shares in the last quarter. Hedge funds and other 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.