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 dated Wednesday, January 8th. The stock was sold at an average price of $63.46, for a total value of $2,061,498.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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

NYSE:RBRK traded down $1.22 during mid-day trading on Wednesday, hitting $63.12. 2,324,475 shares of the company’s stock traded hands, compared to its average volume of 2,615,752. The firm has a 50 day moving average of $56.95 and a two-hundred day moving average of $42.03. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $75.79.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Cantor Fitzgerald boosted their target price on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Piper Sandler raised their price target on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Barclays boosted their price target on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Oppenheimer started coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $64.11.

Institutional Investors Weigh In On Rubrik

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new position in Rubrik in the 3rd quarter valued at approximately $25,000. KBC Group NV bought a new stake in shares of Rubrik during the third quarter valued at approximately $72,000. Quent Capital LLC acquired a new position in shares of Rubrik in the third quarter valued at $192,000. Mount Yale Investment Advisors LLC bought a new position in Rubrik in the third quarter worth $208,000. Finally, Sei Investments Co. acquired a new stake in Rubrik during the second quarter worth $235,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.