Arvind Nithrakashyap Sells 32,484 Shares of Rubrik, Inc. (NYSE:RBRK) Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 32,484 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $13,505,393.61. This trade represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, March 3rd, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $63.77, for a total transaction of $2,071,568.45.
• 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 transaction 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 transaction 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 transaction 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 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 transaction of $2,198,882.34.

Rubrik Price Performance

RBRK opened at $58.53 on Friday. The company’s 50 day simple moving average is $69.56 and its 200 day simple moving average is $52.56. Rubrik, Inc. has a 1 year low of $28.34 and a 1 year high of $80.00.

Analysts Set New Price Targets

A number of brokerages recently commented on RBRK. Citigroup increased their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 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 note on Friday, December 6th. Mizuho increased their price objective on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. KeyCorp raised their price target on shares of Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, William Blair began coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating on the stock. Three 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.56.

Institutional Investors Weigh In On Rubrik

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Rubrik during the fourth quarter valued at approximately $277,395,000. Vanguard Group Inc. lifted its position in Rubrik by 114.1% during the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after buying an additional 3,372,323 shares in the last quarter. FMR LLC lifted its position in Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after buying an additional 2,065,444 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in Rubrik during the third quarter valued at approximately $44,418,000. Finally, Point72 Asset Management L.P. acquired a new position in Rubrik during the third quarter valued at approximately $42,247,000. 49.54% of the stock is owned by institutional investors and hedge funds.

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.