Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap Sells 43,128 Shares

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 43,128 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $88.56, for a total value of $3,819,415.68. Following the completion of the transaction, the chief technology officer now directly owns 38,122 shares of the company’s stock, valued at approximately $3,376,084.32. This trade represents a 53.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $99.83, for a total transaction of $3,242,178.91.
• On Tuesday, June 3rd, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $98.85, for a total transaction of $3,211,043.40.
• On Wednesday, May 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The stock was 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 shares were 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 stock was sold at an average price of $56.61, for a total value of $1,838,919.24.
• On Monday, April 7th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $52.04, for a total value of $1,690,467.36.

Rubrik Trading Down 1.6%

NYSE RBRK opened at $85.76 on Friday. The firm has a market capitalization of $16.59 billion, a PE ratio of -30.30 and a beta of 0.87. The business’s 50-day moving average price is $81.71 and its two-hundred day moving average price is $71.96. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $103.00.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to analyst estimates of $260.39 million. During the same period in the prior year, the company posted ($1.58) EPS. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. As a group, analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rubrik

Several large investors have recently modified their holdings of the company. Amundi lifted its stake in shares of 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 during the period. NewEdge Advisors LLC boosted its position in shares of Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock worth $76,000 after purchasing an additional 300 shares in the last quarter. Comerica Bank grew its stake in shares of Rubrik by 209.0% in the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after buying an additional 395 shares during the period. Russell Investments Group Ltd. bought a new stake in Rubrik in the 4th quarter valued at about $28,000. Finally, Global Retirement Partners LLC raised its stake in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after buying an additional 500 shares during the period. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RBRK shares. Guggenheim raised their price objective on Rubrik from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, June 6th. KeyCorp reissued an “overweight” rating and issued a $113.00 target price (up previously from $98.00) on shares of Rubrik in a report on Friday, June 6th. Roth Capital lifted their price target on shares of Rubrik from $97.00 to $107.00 and gave the company a “buy” rating in a report on Friday, June 6th. Mizuho cut shares of Rubrik from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. Finally, Wedbush raised their target price on shares of Rubrik from $80.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

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.