Rubrik, Inc.’s Lock-Up Period Will End on October 22nd (NYSE:RBRK)

Rubrik’s (NYSE:RBRK) lock-up period is set to expire on Tuesday, October 22nd. Rubrik had issued 23,500,000 shares in its public offering on April 25th. The total size of the offering was $752,000,000 based on an initial share price of $32.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analyst Weigh In

RBRK has been the subject of a number of analyst reports. Guggenheim reissued a “buy” rating and issued a $48.00 price objective on shares of Rubrik in a research note on Tuesday, June 25th. CIBC raised their price target on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Robert W. Baird began coverage on Rubrik in a research note on Monday, July 15th. They issued an “outperform” rating and a $42.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $43.00 target price on shares of Rubrik in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company lowered their price target on Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Sixteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Rubrik presently has a consensus rating of “Buy” and a consensus target price of $44.65.

Rubrik Stock Down 0.7 %

RBRK stock opened at $38.87 on Thursday. The firm has a fifty day simple moving average of $33.66. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $40.36.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. Analysts predict that Rubrik will post -7.95 earnings per share for the current year.

Insider Buying and Selling

In other Rubrik news, CFO Kiran Kumar Choudary sold 45,800 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the sale, the chief financial officer now directly owns 448,560 shares of the company’s stock, valued at $17,592,523.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Kiran Kumar Choudary sold 45,800 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $39.22, for a total value of $1,796,276.00. Following the completion of the sale, the chief financial officer now directly owns 448,560 shares in the company, valued at $17,592,523.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 368,329 shares of company stock worth $12,241,803.

Institutional Trading of Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC purchased a new stake in shares of Rubrik in the second quarter worth approximately $47,523,000. Clearbridge Investments LLC bought a new position in Rubrik in the 2nd quarter valued at $32,888,000. EPIQ Capital Group LLC purchased a new stake in Rubrik in the second quarter worth $15,111,000. SG Americas Securities LLC bought a new stake in shares of Rubrik during the third quarter worth $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rubrik during the second quarter valued at $7,665,000.

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.