Insider Selling: Rubrik, Inc. (NYSE:RBRK) CRO Sells 25,000 Shares of Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $80.01, for a total value of $2,000,250.00. Following the completion of the sale, the executive now directly owns 529,584 shares of the company’s stock, valued at $42,372,015.84. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Rubrik Trading Up 0.8%

NYSE RBRK opened at $85.25 on Friday. The business’s 50 day moving average is $66.44 and its two-hundred day moving average is $63.70. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $86.86. The stock has a market capitalization of $16.18 billion and a price-to-earnings ratio of -6.19.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter last year, the firm earned ($1.59) EPS. The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. Equities analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rubrik

Several hedge funds have recently bought and sold shares of the company. Amundi increased its stake in Rubrik by 0.7% in the 1st quarter. Amundi now owns 37,116 shares of the company’s stock valued at $2,132,000 after purchasing an additional 262 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Rubrik in the 1st quarter valued at approximately $14,151,000. Alkeon Capital Management LLC increased its stake in Rubrik by 40.0% in the 1st quarter. Alkeon Capital Management LLC now owns 700,000 shares of the company’s stock valued at $42,686,000 after purchasing an additional 200,000 shares in the last quarter. PDT Partners LLC increased its stake in Rubrik by 40.7% in the 1st quarter. PDT Partners LLC now owns 78,089 shares of the company’s stock valued at $4,762,000 after purchasing an additional 22,573 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Rubrik by 231.3% in the 1st quarter. Royal Bank of Canada now owns 29,320 shares of the company’s stock valued at $1,789,000 after purchasing an additional 20,471 shares in the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RBRK shares. Guggenheim boosted their target price on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. William Blair started coverage on Rubrik in a report on Friday, February 7th. They issued a “market perform” rating for the company. Robert W. Baird reduced their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Citigroup boosted their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of Rubrik in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $71.05.

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.