Insider Selling: Rubrik, Inc. (NYSE:RBRK) CTO Sells 32,499 Shares of Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 32,499 shares of Rubrik stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34. The transaction was disclosed in a filing with the SEC, which is available through this link.

Arvind Nithrakashyap also recently made the following trade(s):

• On Wednesday, January 8th, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The shares were sold at an average price of $63.46, for a total value of $2,061,498.10.

Rubrik Stock Performance

Shares of Rubrik stock traded down $1.22 during trading hours on Wednesday, hitting $63.12. The company’s stock had a trading volume of 2,324,475 shares, compared to its average volume of 2,615,752. The firm has a fifty day moving average of $56.95 and a 200-day moving average of $42.03. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $75.79.

Institutional Investors Weigh In On Rubrik

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

Wall Street Analyst Weigh In

RBRK has been the topic of several research analyst reports. Oppenheimer started coverage on Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Truist Financial raised their price objective on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. FBN Securities assumed coverage on shares of Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price target for the company. Barclays increased their price objective on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup increased their price target on shares of Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rubrik has a consensus rating of “Buy” and a consensus price target of $64.11.

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.