Rubrik, Inc. (NYSE:RBRK) CTO Sells $2,431,502.25 in Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 32,485 shares of Rubrik stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $16,413,033.15. This trade represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 3rd, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was 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 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 Up 2.0 %

RBRK stock traded up $1.52 during mid-day trading on Wednesday, reaching $75.60. 1,190,124 shares of the stock traded hands, compared to its average volume of 2,208,666. The business has a 50-day moving average of $66.28 and a two-hundred day moving average of $47.11. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $77.22.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. acquired a new position in Rubrik in the 2nd quarter valued at approximately $235,000. Bank of Montreal Can acquired a new position in shares of Rubrik in the second quarter valued at $427,000. Millennium Management LLC bought a new position in Rubrik in the second quarter worth $6,272,000. Diversified Trust Co acquired a new stake in Rubrik during the third quarter worth $432,000. Finally, Renaissance Capital LLC increased its holdings in Rubrik by 190.1% in the 3rd quarter. Renaissance Capital LLC now owns 60,061 shares of the company’s stock valued at $1,931,000 after buying an additional 39,354 shares during the period. 49.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RBRK. Piper Sandler increased their price target on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Oppenheimer initiated coverage on shares of Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. Barclays boosted their price target on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Robert W. Baird lifted their price objective on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, Truist Financial boosted their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $64.67.

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.