Rubrik Sees Unusually Large Options Volume (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK) was the target of unusually large options trading on Monday. Traders bought 9,271 put options on the company. This is an increase of approximately 120% compared to the typical volume of 4,211 put options.

Rubrik Price Performance

Shares of NYSE RBRK traded down $3.29 during midday trading on Monday, reaching $60.37. 2,101,952 shares of the stock traded hands, compared to its average volume of 2,291,876. The company’s 50 day moving average is $69.09 and its 200 day moving average is $56.36. Rubrik has a one year low of $28.34 and a one year high of $80.00. The stock has a market capitalization of $11.18 billion and a PE ratio of -4.38.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.59) earnings per share. As a group, equities analysts forecast that Rubrik will post -7.66 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kiran Kumar Choudary sold 87,971 shares of Rubrik stock in a transaction that occurred 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 in the company, 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 legal filing with the SEC, which is available through this link. Also, CRO Brian K. Mccarthy sold 85,001 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $70.04, for a total transaction of $5,953,470.04. Following the transaction, the executive now owns 433,909 shares in the company, valued at approximately $30,390,986.36. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 792,426 shares of company stock valued at $53,187,894.

Institutional Investors Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in shares of Rubrik during the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC increased its position in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Rubrik in the fourth quarter valued at $39,000. Point72 Hong Kong Ltd bought a new position in Rubrik during the 4th quarter valued at about $47,000. Finally, Quarry LP purchased a new stake in Rubrik in the 4th quarter worth about $48,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RBRK. Citigroup raised their target price on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. BMO Capital Markets increased their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Truist Financial boosted their target price on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Rosenblatt Securities upgraded shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Wednesday, March 12th. Finally, Robert W. Baird cut their price objective 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. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $70.00.

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.