Arvind Nithrakashyap Sells 32,484 Shares of Rubrik, Inc. (NYSE:RBRK) Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.85, for a total value of $3,211,043.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Arvind Nithrakashyap also recently made the following trade(s):

• On Thursday, June 5th, Arvind Nithrakashyap sold 32,477 shares of Rubrik stock. The stock was sold at an average price of $99.83, for a total transaction of $3,242,178.91.
• On Wednesday, May 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $75.20, for a total transaction of $2,442,796.80.
• On Monday, May 5th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The stock was sold at an average price of $75.03, for a total transaction of $2,437,274.52.
• On Wednesday, April 9th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $56.61, for a total transaction of $1,838,919.24.
• On Monday, April 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The stock was sold at an average price of $52.04, for a total transaction of $1,690,467.36.

Rubrik Trading Down 0.2%

RBRK stock opened at $98.37 on Friday. The company’s 50 day moving average is $74.56 and its 200 day moving average is $68.88. The stock has a market cap of $18.67 billion and a price-to-earnings ratio of -7.14. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $103.75.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.17. The company had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. During the same period in the previous year, the company earned ($1.58) EPS. Rubrik’s quarterly revenue was up 48.7% on a year-over-year basis. As a group, sell-side analysts forecast that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RBRK. Mizuho lowered Rubrik from an “outperform” rating to a “neutral” rating and upped their target price for the company from $75.00 to $86.00 in a report on Thursday, May 15th. William Blair began coverage on Rubrik in a research report on Friday, February 7th. They set a “market perform” rating for the company. Guggenheim reissued a “buy” rating and issued a $105.00 price target (up from $80.00) on shares of Rubrik in a report on Wednesday, May 28th. BMO Capital Markets upped their price objective on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, Wedbush increased their price objective on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik presently has a consensus rating of “Moderate Buy” and an average target price of $79.75.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in shares of Rubrik in the 4th quarter worth about $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Rubrik in the 1st quarter worth approximately $30,000. Summit Securities Group LLC purchased a new position in Rubrik in the 1st quarter worth $31,000. Global Retirement Partners LLC lifted its stake in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Rubrik by 209.0% during the first quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after buying an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.