Rubrik, Inc. (NYSE:RBRK) CRO Sells $2,060,604.90 in Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 28,485 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $2,060,604.90. Following the completion of the sale, the executive now owns 346,560 shares in the company, valued at approximately $25,070,150.40. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rubrik Stock Performance

RBRK opened at $66.12 on Friday. The stock’s fifty day moving average is $49.90 and its two-hundred day moving average is $38.81. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $75.79.

Wall Street Analyst Weigh In

RBRK has been the subject of several recent research reports. FBN Securities started coverage on Rubrik in a research report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target for the company. Barclays lifted their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Piper Sandler increased their price target on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday. BMO Capital Markets lifted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.11.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dragoneer Investment Group LLC bought a new stake in shares of Rubrik in the second quarter valued at about $47,523,000. Champlain Investment Partners LLC bought a new stake in shares of Rubrik in the 3rd quarter valued at about $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik in the 3rd quarter worth approximately $42,247,000. PointState Capital LP purchased a new stake in shares of Rubrik in the 3rd quarter worth approximately $40,466,000. Finally, Institutional Venture Management XV LLC boosted its stake in shares of Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares in the last quarter. 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.