Rubrik (NYSE:RBRK) Shares Gap Down on Insider Selling

Rubrik, Inc. (NYSE:RBRK) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $74.19, but opened at $71.14. Rubrik shares last traded at $71.51, with a volume of 2,786,508 shares changing hands.

Specifically, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $69.70, for a total value of $125,460.00. Following the transaction, the chief financial officer now directly owns 342,160 shares of the company’s stock, valued at approximately $23,848,552. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. FBN Securities assumed coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective for the company. Wedbush raised their target price on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. CIBC upped their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Finally, Oppenheimer began coverage on Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rubrik has an average rating of “Buy” and a consensus target price of $61.88.

Rubrik Stock Performance

The stock’s 50-day moving average price is $46.55 and its two-hundred day moving average price is $37.47.

Hedge Funds Weigh In On Rubrik

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Rubrik in the third quarter valued at $25,000. KBC Group NV purchased a new stake in Rubrik during the third quarter valued at about $72,000. Quent Capital LLC bought a new position in Rubrik during the third quarter worth about $192,000. Mount Yale Investment Advisors LLC bought a new position in Rubrik during the third quarter worth about $208,000. Finally, Barclays PLC increased its stake in shares of Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares in the last quarter. 49.54% of the stock is owned by institutional investors.

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.