Insider Selling: Rubrik, Inc. (NYSE:RBRK) CTO Sells 32,485 Shares of Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 32,485 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.85, for a total value of $2,301,562.25. Following the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $15,535,917.15. This represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, February 5th, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $74.85, for a total value of $2,431,502.25.
• On Tuesday, January 14th, Arvind Nithrakashyap sold 227,596 shares of Rubrik stock. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44.
• On Wednesday, January 8th, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $63.46, for a total transaction of $2,061,498.10.
• On Monday, January 6th, Arvind Nithrakashyap sold 32,499 shares of Rubrik stock. The shares were sold at an average price of $67.66, for a total value of $2,198,882.34.

Rubrik Stock Performance

Rubrik stock traded up $1.52 during mid-day trading on Wednesday, reaching $75.60. The company’s stock had a trading volume of 1,190,124 shares, compared to its average volume of 2,208,666. Rubrik, Inc. has a twelve month low of $28.34 and a twelve month high of $77.22. The business has a 50 day moving average price of $66.28 and a 200-day moving average price of $47.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RBRK shares. Mizuho increased their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Cantor Fitzgerald increased their price objective on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Rosenblatt Securities began coverage on shares of Rubrik in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Truist Financial upped their target price on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Oppenheimer initiated coverage on shares of Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Two investment 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 stock. According to data from MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $64.67.

Institutional Investors Weigh In On Rubrik

A number of institutional investors have recently modified their holdings of the business. Champlain Investment Partners LLC acquired a new position in shares of Rubrik during the third quarter valued at $44,418,000. Point72 Asset Management L.P. bought a new stake in Rubrik in the 3rd quarter valued at about $42,247,000. PointState Capital LP bought a new position in Rubrik in the 3rd quarter worth about $40,466,000. Institutional Venture Management XV LLC increased its stake in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in shares of Rubrik during the third quarter valued at approximately $35,359,000. Institutional investors own 49.54% of the company’s stock.

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.