Rubrik (NYSE:RBRK) Trading Down 6.3% After Insider Selling

Key Points

• Rubrik shares fell 6.3% on Wednesday after Director Ravi Mhatre disclosed the sale of 3,979 shares at an average price of $83.10, a transaction worth about $330,655.
• Despite the stock drop, analysts remain broadly positive: 28 analysts rate Rubrik a Buy, with an average target price of $93.46 and multiple firms recently raising their price targets.
• Rubrik’s latest earnings were strong, with Q1 results beating expectations on both earnings and revenue, while revenue rose 39% year over year.

Shares of Rubrik, Inc. (NYSE:RBRK - Get Free Report) fell 6.3% on Wednesday after an insider sold shares in the company. The company traded as low as $82.86 and last traded at $82.4970. 800,420 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 3,899,735 shares. The stock had previously closed at $88.05.

Specifically, Director Ravi Mhatre sold 3,979 shares of the business's stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $83.10, for a total transaction of $330,654.90. Following the transaction, the director directly owned 125,351 shares in the company, valued at $10,416,668.10. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

RBRK has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Rubrik in a report on Monday, June 1st. BMO Capital Markets raised their price target on Rubrik from $87.00 to $98.00 and gave the company an "outperform" rating in a report on Friday. Robert W. Baird upped their price objective on Rubrik from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. DA Davidson reiterated a "buy" rating and issued a $90.00 price objective (up from $70.00) on shares of Rubrik in a research report on Thursday, June 11th. Finally, Wolfe Research reissued an "outperform" rating and issued a $95.00 target price on shares of Rubrik in a report on Friday, June 5th. Twenty-eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.46.

Rubrik Stock Down 6.4%

The firm has a fifty day moving average of $72.77 and a 200-day moving average of $62.78. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of -56.89 and a beta of 1.10.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, June 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.19. The firm had revenue of $387.07 million during the quarter, compared to analyst estimates of $366.31 million. The firm's revenue for the quarter was up 39.0% on a year-over-year basis. During the same period last year, the company posted ($0.15) EPS. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. As a group, research analysts forecast that Rubrik, Inc. will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently added to or reduced their stakes in RBRK. Handelsbanken Fonder AB raised its position in Rubrik by 35.4% during the second quarter. Handelsbanken Fonder AB now owns 44,400 shares of the company's stock worth $3,564,000 after acquiring an additional 11,600 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Rubrik by 34.4% in the second quarter. Gradient Investments LLC now owns 25,652 shares of the company's stock valued at $2,059,000 after purchasing an additional 6,567 shares in the last quarter. FNY Investment Advisers LLC grew its position in shares of Rubrik by 112.7% in the second quarter. FNY Investment Advisers LLC now owns 9,677 shares of the company's stock valued at $776,000 after purchasing an additional 5,127 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Rubrik by 11.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 280,448 shares of the company's stock worth $22,514,000 after purchasing an additional 28,056 shares in the last quarter. Finally, Balefire LLC purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $344,000. 49.54% of the stock is owned by institutional investors and hedge funds.

About Rubrik

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company's platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.