Rubrik, Inc. (NYSE:RBRK) CFO Sells $1,630,932.84 in Stock

Rubrik, Inc. (NYSE:RBRK) CFO Kiran Kumar Choudary sold 51,924 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now directly owns 493,360 shares of the company’s stock, valued at approximately $15,496,437.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rubrik Price Performance

NYSE:RBRK opened at $31.38 on Thursday. The stock has a 50-day moving average of $33.14. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $40.00.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RBRK. Citigroup upped their price objective on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Piper Sandler initiated coverage on shares of Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 price target for the company. Wedbush reduced their price objective on Rubrik from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. KeyCorp boosted their target price on Rubrik from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Finally, CIBC increased their target price on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Sixteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $44.41.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently bought and sold shares of RBRK. Davidson Kempner Capital Management LP purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $2,606,000. ARK Investment Management LLC bought a new position in Rubrik in the second quarter worth $6,043,000. EPIQ Capital Group LLC purchased a new position in Rubrik during the second quarter valued at $15,111,000. Octahedron Capital Management L.P. bought a new stake in shares of Rubrik during the 2nd quarter valued at $4,936,000. Finally, Liberty Street Advisors Inc. bought a new stake in shares of Rubrik during the 2nd quarter valued at $4,117,000.

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.