Rubrik (NYSE:RBRK) Stock Price Down 2% After Insider Selling

Rubrik, Inc. (NYSE:RBRK) shares fell 2% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $31.59 and last traded at $31.59. 63,397 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,261,109 shares. The stock had previously closed at $32.24.

Specifically, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RBRK. Citigroup boosted their target price on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays boosted their price objective on shares of Rubrik from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. Guggenheim reaffirmed a “buy” rating and set a $48.00 target price on shares of Rubrik in a research report on Tuesday, June 25th. Baird R W upgraded Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Finally, Piper Sandler assumed coverage on Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective on the stock. Fifteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Rubrik has an average rating of “Buy” and a consensus price target of $44.69.

Rubrik Trading Up 3.7 %

The firm’s 50-day moving average is $33.48.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RBRK. Register Financial Advisors LLC acquired a new position in shares of Rubrik in the 2nd quarter valued at $227,000. Sei Investments Co. purchased a new position in shares of Rubrik in the second quarter worth about $235,000. PFG Investments LLC purchased a new position in shares of Rubrik in the second quarter worth about $242,000. Natixis Advisors LLC acquired a new stake in shares of Rubrik during the second quarter worth about $406,000. Finally, Bank of Montreal Can purchased a new stake in Rubrik in the second quarter valued at approximately $427,000.

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.