Traders Buy Large Volume of Call Options on Rubrik (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK) saw unusually large options trading on Friday. Investors bought 6,624 call options on the company. This is an increase of 78% compared to the average volume of 3,712 call options.

Insider Buying and Selling

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the sale, the director now directly owns 153 shares of the company’s stock, valued at $11,828.43. This trade represents a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total value of $2,000,689.56. Following the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 625,712 shares of company stock valued at $41,583,311.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently modified their holdings of RBRK. Russell Investments Group Ltd. bought a new position in Rubrik in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC increased its position in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Rubrik during the fourth quarter worth $39,000. Point72 Hong Kong Ltd purchased a new stake in shares of Rubrik during the fourth quarter valued at $47,000. Finally, Quarry LP purchased a new stake in shares of Rubrik during the fourth quarter valued at $48,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Stock Performance

Shares of Rubrik stock traded up $15.44 on Friday, hitting $70.72. 5,557,716 shares of the company traded hands, compared to its average volume of 1,904,272. The stock’s 50 day moving average price is $68.20 and its 200-day moving average price is $53.27. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. During the same period in the previous year, the company earned ($1.59) earnings per share. The business’s quarterly revenue was up 47.5% on a year-over-year basis. As a group, equities analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup raised their price target on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. William Blair started coverage on Rubrik in a report on Friday, February 7th. They set a “market perform” rating on the stock. Robert W. Baird reduced their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. 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. Finally, Wedbush lifted their target price on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $69.78.

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.