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 business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.77, for a total value of $2,071,568.45. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $13,983,421.83. This trade represents a 12.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, March 5th, Arvind Nithrakashyap sold 32,484 shares of Rubrik stock. The shares were sold at an average price of $61.59, for a total value of $2,000,689.56.
• On Wednesday, February 5th, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The shares were sold at an average price of $74.85, for a total value of $2,431,502.25.
• On Monday, February 3rd, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The shares were sold at an average price of $70.85, for a total value of $2,301,562.25.
• 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 value of $14,768,704.44.
• 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.
• 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 Up 2.4 %

Rubrik stock opened at $63.05 on Thursday. The stock’s 50 day moving average is $69.65 and its 200 day moving average is $52.49. Rubrik, Inc. has a one year low of $28.34 and a one year high of $80.00.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its stake in shares of Rubrik by 6.9% in the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock worth $11,595,000 after acquiring an additional 23,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rubrik in the third quarter valued at approximately $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Rubrik by 24.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock valued at $7,998,000 after buying an additional 49,372 shares during the period. Renaissance Capital LLC lifted its stake in Rubrik by 21.2% in the fourth quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock valued at $4,757,000 after buying an additional 12,714 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Rubrik in the third quarter valued at approximately $336,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RBRK has been the topic of a number of recent analyst reports. Piper Sandler lifted their target price on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. William Blair initiated coverage on Rubrik in a research report on Friday, February 7th. They issued a “market perform” rating on the stock. Wells Fargo & Company lifted their target price on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Guggenheim reiterated a “buy” rating and issued a $76.00 target price on shares of Rubrik in a research report on Wednesday, February 26th. Finally, Oppenheimer initiated coverage on Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.56.

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.