Rubrik (NYSE:RBRK) Trading 3.3% Higher – Here’s What Happened

Rubrik, Inc. (NYSE:RBRK) traded up 3.3% during trading on Thursday . The stock traded as high as $92.92 and last traded at $91.7360. Approximately 240,245 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 3,736,140 shares. The stock had previously closed at $88.82.

Analyst Ratings Changes

Several research firms recently issued reports on RBRK. Loop Capital started coverage on Rubrik in a report on Monday, August 3rd. They issued a “buy” rating and a $100.00 price target on the stock. Scotiabank reiterated an “outperform” rating on shares of Rubrik in a research report on Tuesday, August 25th. Wolfe Research restated an “outperform” rating and issued a $120.00 price objective on shares of Rubrik in a report on Friday, August 28th. Mizuho lifted their target price on shares of Rubrik from $90.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Finally, Barclays raised their price target on Rubrik from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Twenty-eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.15.

Rubrik Price Performance

The business has a 50 day simple moving average of $87.50 and a 200-day simple moving average of $69.59. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of -71.98 and a beta of 1.24.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.16. The business had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. As a group, equities analysts predict that Rubrik, Inc. will post -1.21 earnings per share for the current year.

Insider Activity

In other news, Director John Thompson sold 11,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $89.03, for a total transaction of $979,330.00. Following the completion of the sale, the director owned 8,362 shares of the company’s stock, valued at $744,468.86. This represents a 56.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Arvind Nithrakashyap sold 12,820 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $83.71, for a total transaction of $1,073,162.20. Following the sale, the chief technology officer owned 293,293 shares in the company, valued at approximately $24,551,557.03. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 112,577 shares of company stock worth $9,376,785. Corporate insiders own 13.66% of the company’s stock.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently added to or reduced their stakes in RBRK. NewEdge Advisors LLC raised its stake in shares of Rubrik by 12.0% in the 2nd quarter. NewEdge Advisors LLC now owns 1,400 shares of the company’s stock valued at $125,000 after purchasing an additional 150 shares during the period. Atlantic Union Bankshares Corp grew its holdings in shares of Rubrik by 100.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Creative Planning boosted its holdings in shares of Rubrik by 5.3% in the 2nd quarter. Creative Planning now owns 4,668 shares of the company’s stock valued at $418,000 after buying an additional 236 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Rubrik by 9.2% in the 4th quarter. Moors & Cabot Inc. now owns 3,337 shares of the company’s stock valued at $255,000 after buying an additional 282 shares during the last quarter. Finally, Essential Partners LLC grew its stake in shares of Rubrik by 99.3% in the first quarter. Essential Partners LLC now owns 570 shares of the company’s stock valued at $28,000 after buying an additional 284 shares in the last quarter. Institutional investors own 49.54% of the company’s stock.

About Rubrik

Rubrik, Inc is a cloud data management and cyber resilience company that helps organizations protect, manage and recover data across on-premises systems, cloud environments and software-as-a-service applications. Its platform is designed to support data backup, recovery, security monitoring and operational resilience.

The company’s principal offering, Rubrik Security Cloud, provides centralized capabilities for data protection and cyber recovery. The platform helps organizations identify sensitive data, monitor for threats, maintain secure backups and restore systems following events such as ransomware attacks, operational failures or other disruptions.

Rubrik was founded in 2014 by Bipul Sinha, Arvind Nithrakashyap and Soham Mazumdar.