Rubrik Target of Unusually High Options Trading (NYSE:RBRK)

Key Points

• Rubrik, Inc. experienced a significant increase in options trading, with traders purchasing 6,786 call options, marking a 32% rise compared to the average daily volume.
• Wall Street analysts have shown strong support for Rubrik, with price targets being raised by multiple firms, reaching as high as $120.00 from Wedbush.
• Insider activity reported that CFO Kiran Kumar Choudary sold 3,500 shares of Rubrik stock, while insiders collectively sold 914,086 shares worth over $82 million in the last quarter.

Rubrik, Inc. (NYSE:RBRK - Get Free Report) saw unusually large options trading activity on Monday. Stock traders bought 6,786 call options on the company. Thisrepresentsanincreaseof32% compared to the average daily volume of 5,146 call options.

Wall Street Analyst Weigh In

Several research firms have weighed in on RBRK. Wedbush boosted their price target on Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. KeyCorp reiterated an "overweight" rating and issued a $113.00 price target (up previously from $98.00) on shares of Rubrik in a report on Friday, June 6th. BMO Capital Markets restated an "outperform" rating and set a $110.00 price objective (up from $77.00) on shares of Rubrik in a research note on Friday, June 6th. Truist Financial upped their price objective on shares of Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Guggenheim raised 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. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Rubrik has an average rating of "Moderate Buy" and an average price target of $100.38.

Insider Activity at Rubrik

In other news, CFO Kiran Kumar Choudary sold 3,500 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $88.26, for a total transaction of $308,910.00. Following the sale, the chief financial officer directly owned 515,595 shares of the company's stock, valued at $45,506,414.70. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 2,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $88.21, for a total value of $176,420.00. Following the completion of the transaction, the director directly owned 2,855 shares in the company, valued at approximately $251,839.55. The trade was a 41.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 914,086 shares of company stock worth $82,614,503 in the last quarter. 32.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rubrik

A number of hedge funds have recently modified their holdings of RBRK. NewEdge Advisors LLC lifted its stake in Rubrik by 12.0% in the 2nd quarter. NewEdge Advisors LLC now owns 1,400 shares of the company's stock worth $125,000 after purchasing an additional 150 shares in the last quarter. Creative Planning increased its holdings in shares of Rubrik by 5.3% in the second quarter. Creative Planning now owns 4,668 shares of the company's stock valued at $418,000 after purchasing an additional 236 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Rubrik by 68.5% during the second quarter. Advisors Asset Management Inc. now owns 588 shares of the company's stock worth $53,000 after buying an additional 239 shares in the last quarter. Amundi boosted its stake in Rubrik by 0.7% during the first quarter. Amundi now owns 37,116 shares of the company's stock worth $2,132,000 after buying an additional 262 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Rubrik by 1,030.8% in the 2nd quarter. Allworth Financial LP now owns 294 shares of the company's stock valued at $26,000 after buying an additional 268 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Stock Performance

Shares of Rubrik stock traded up $4.72 on Monday, hitting $95.65. The company's stock had a trading volume of 4,936,091 shares, compared to its average volume of 2,970,758. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of -33.80 and a beta of 0.44. The firm has a fifty day moving average price of $87.76 and a 200-day moving average price of $79.01. Rubrik has a 1 year low of $29.18 and a 1 year high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to analysts' expectations of $260.39 million. The firm's quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.58) earnings per share. As a group, analysts forecast that Rubrik will post -7.66 EPS for the current year.

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.

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