Rubrik, Inc. (NYSE:RBRK) CTO Sells $14,768,704.44 in Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 227,596 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $14,229,014.31. The trade was a 50.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34.

Rubrik Stock Performance

NYSE:RBRK traded up $1.36 during trading hours on Thursday, reaching $68.09. The stock had a trading volume of 2,423,998 shares, compared to its average volume of 2,428,840. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $75.79. The company has a 50 day moving average price of $59.24 and a two-hundred day moving average price of $43.23.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RBRK. FBN Securities assumed coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target on the stock. Citigroup raised their target price on Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp upped their price target on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Truist Financial raised their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Piper Sandler upped their target price on shares of Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $64.11.

Institutional Trading of Rubrik

Hedge funds have recently made changes to their positions in the business. Dragoneer Investment Group LLC bought a new stake in Rubrik during the second quarter worth approximately $47,523,000. Champlain Investment Partners LLC purchased a new position in shares of Rubrik in the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. purchased a new position in shares of Rubrik in the 3rd quarter worth approximately $42,247,000. PointState Capital LP bought a new position in shares of Rubrik during the 3rd quarter valued at approximately $40,466,000. Finally, Institutional Venture Management XV LLC raised its holdings in Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after buying an additional 1,131,360 shares during the period. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.