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 firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $70.85, for a total transaction of $2,301,562.25. Following the completion of the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $15,535,917.15. This trade represents a 12.90 % decrease in their position. The sale was disclosed in a 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 transaction 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 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 stock was sold at an average price of $67.66, for a total value of $2,198,882.34.

Rubrik Stock Down 1.1 %

NYSE RBRK opened at $74.52 on Friday. The business has a 50 day moving average price of $67.78 and a 200 day moving average price of $47.78. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $79.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RBRK shares. Mizuho increased their price objective on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. KeyCorp increased their price objective on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Oppenheimer assumed coverage on Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Robert W. Baird boosted their price objective on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, Guggenheim raised their target price on shares of Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.67.

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $1,495,000. Endowment Wealth Management Inc. purchased a new position in Rubrik during the fourth quarter worth $655,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rubrik by 82.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,359 shares of the company’s stock worth $1,200,000 after acquiring an additional 8,300 shares during the last quarter. Amundi purchased a new stake in shares of Rubrik in the fourth quarter valued at $2,329,000. Finally, Haven Private LLC acquired a new stake in shares of Rubrik during the 4th quarter worth about $480,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.