Insider Selling: Rubrik, Inc. (NYSE:RBRK) CFO Sells $6,161,488.84 in Stock

Rubrik, Inc. (NYSE:RBRK) CFO Kiran Kumar Choudary sold 87,971 shares of Rubrik stock in a transaction on Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the sale, the chief financial officer now directly owns 413,458 shares of the company’s stock, valued at $28,958,598.32. The trade was a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Kiran Kumar Choudary also recently made the following trade(s):

• On Wednesday, January 15th, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The shares were sold at an average price of $66.52, for a total value of $119,736.00.
• On Wednesday, January 8th, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The stock was sold at an average price of $62.60, for a total transaction of $112,680.00.
• On Thursday, January 2nd, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The stock was sold at an average price of $65.72, for a total transaction of $118,296.00.
• On Friday, December 27th, Kiran Kumar Choudary sold 1,800 shares of Rubrik stock. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00.

Rubrik Price Performance

NYSE RBRK opened at $65.74 on Friday. The company has a fifty day moving average of $69.17 and a two-hundred day moving average of $55.81. The company has a market capitalization of $12.18 billion and a PE ratio of -4.77. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.59) earnings per share. On average, research analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on RBRK. Robert W. Baird decreased their price target on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company lifted their target price on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Truist Financial boosted their target price on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Rubrik in a research report on Friday, March 14th. Finally, Piper Sandler boosted their price objective on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $70.00.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently modified their holdings of RBRK. Vanguard Group Inc. raised its position in Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after purchasing an additional 3,372,323 shares during the last quarter. Norges Bank purchased a new stake in shares of Rubrik in the fourth quarter valued at about $277,395,000. FMR LLC boosted its stake in shares of Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after buying an additional 2,065,444 shares during the period. First Trust Advisors LP grew its holdings in shares of Rubrik by 26.6% during the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock worth $206,278,000 after buying an additional 662,914 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Rubrik by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after buying an additional 427,149 shares during the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.