Rubrik (NYSE:RBRK) Shares Down 2.5% on Insider Selling

Rubrik, Inc. (NYSE:RBRK) dropped 2.5% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $65.05 and last traded at $66.53. Approximately 435,912 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,786,413 shares. The stock had previously closed at $68.27.

Specifically, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $68.03, for a total value of $122,454.00. Following the completion of the transaction, the chief financial officer now owns 343,774 shares of the company’s stock, valued at approximately $23,386,945.22. This represents a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BMO Capital Markets lifted their target price on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Citigroup lifted their price target on Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Cantor Fitzgerald upped their price objective on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. KeyCorp lifted their target price on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Wedbush increased their price target on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $64.11.

Rubrik Trading Down 3.0 %

The company’s fifty day moving average is $53.37 and its 200-day moving average is $40.37.

Institutional Investors Weigh In On Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dragoneer Investment Group LLC purchased a new stake in shares of Rubrik in the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC purchased a new position in Rubrik during the third quarter valued at $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the third quarter worth about $42,247,000. PointState Capital LP purchased a new position in Rubrik in the 3rd quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC boosted its holdings in Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after buying an additional 1,131,360 shares during the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Company Profile

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.