Rubrik Sees Unusually High Options Volume (NYSE:RBRK)

Key Points

• Unusual options activity: Traders bought 20,870 call options on Rubrik—a 191% increase versus the typical daily volume of 7,160—while the stock traded down to $54.86 on midday volume below average.
• Analyst sentiment is largely positive: Rubrik carries a "Moderate Buy" consensus with a consensus price target of $98.68 and multiple buy ratings and targets as high as $114 despite some recent target cuts.
• Insider selling amid institutional buying: Insiders sold 247,878 shares worth about $18.15M over the last quarter, even as major institutions like Vanguard and First Trust materially increased their stakes.

Rubrik, Inc. (NYSE:RBRK - Get Free Report) saw some unusual options trading activity on Thursday. Traders acquired 20,870 call options on the company. This represents an increase of 191% compared to the typical daily volume of 7,160 call options.

Rubrik Price Performance

Rubrik stock traded down $2.66 during midday trading on Thursday, reaching $54.86. The company's stock had a trading volume of 2,682,324 shares, compared to its average volume of 3,714,556. The stock's 50-day simple moving average is $60.02 and its 200-day simple moving average is $72.22. The stock has a market capitalization of $10.98 billion, a P/E ratio of -28.38 and a beta of 0.45. Rubrik has a 52-week low of $46.36 and a 52-week high of $103.00.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RBRK. Berenberg Bank initiated coverage on Rubrik in a report on Tuesday, November 18th. They issued a "buy" rating and a $114.00 price target on the stock. Citigroup reiterated a "buy" rating on shares of Rubrik in a research note on Monday, January 12th. Guggenheim set a $110.00 price target on shares of Rubrik in a report on Friday, December 5th. Piper Sandler lowered their price objective on shares of Rubrik from $118.00 to $99.00 and set an "overweight" rating for the company in a research report on Monday, January 5th. Finally, Truist Financial cut their target price on shares of Rubrik from $110.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rubrik currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.68.

Insider Buying and Selling

In other Rubrik news, CTO Arvind Nithrakashyap sold 4,648 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $70.40, for a total transaction of $327,219.20. Following the completion of the sale, the chief technology officer owned 337,010 shares of the company's stock, valued at approximately $23,725,504. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Wendell Thompson sold 11,000 shares of Rubrik stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $53.62, for a total transaction of $589,820.00. Following the completion of the sale, the director directly owned 4,653 shares of the company's stock, valued at approximately $249,493.86. The trade was a 70.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 247,878 shares of company stock worth $18,152,721. Corporate insiders own 32.38% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. Vanguard Group Inc. increased its position in Rubrik by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company's stock worth $1,123,836,000 after purchasing an additional 1,678,255 shares during the last quarter. First Trust Advisors LP increased its position in shares of Rubrik by 42.8% during the 4th quarter. First Trust Advisors LP now owns 7,064,057 shares of the company's stock worth $540,259,000 after purchasing an additional 2,116,272 shares during the last quarter. Norges Bank purchased a new position in shares of Rubrik during the 4th quarter worth approximately $345,907,000. Voya Investment Management LLC increased its holdings in Rubrik by 18.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,569,026 shares of the company's stock valued at $293,552,000 after purchasing an additional 543,855 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Rubrik by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 2,528,649 shares of the company's stock valued at $193,433,000 after purchasing an additional 178,714 shares during the period. Hedge funds and other institutional investors own 49.54% of the company's stock.

Rubrik Company Profile

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).

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