Stock Traders Purchase High Volume of Put Options on Rubrik (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK) was the target of unusually large options trading on Monday. Stock traders acquired 9,271 put options on the company. This represents an increase of approximately 120% compared to the typical daily volume of 4,211 put options.

Insiders Place Their Bets

In other news, CFO Kiran Kumar Choudary sold 87,971 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $70.04, for a total transaction of $6,161,488.84. Following the transaction, the chief financial officer now directly owns 413,458 shares of the company’s stock, valued at approximately $28,958,598.32. This trade represents a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 153 shares in the company, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 792,426 shares of company stock worth $53,187,894 over the last quarter.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the fourth quarter worth $28,000. Global Retirement Partners LLC grew its position in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the period. Nemes Rush Group LLC purchased a new position in shares of Rubrik during the 4th quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Rubrik in the 4th quarter valued at about $47,000. Finally, Quarry LP purchased a new stake in shares of Rubrik in the fourth quarter worth about $48,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBRK has been the topic of several recent research reports. KeyCorp dropped their target price on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. William Blair began coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating on the stock. BMO Capital Markets boosted their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Guggenheim increased their target price on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Rubrik in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $70.00.

Rubrik Trading Down 5.2 %

Shares of NYSE:RBRK traded down $3.29 on Monday, hitting $60.37. 2,101,952 shares of the company were exchanged, compared to its average volume of 2,291,876. The stock’s 50 day moving average price is $69.09 and its 200 day moving average price is $56.36. Rubrik has a 1-year low of $28.34 and a 1-year high of $80.00. The firm has a market capitalization of $11.18 billion and a P/E ratio of -4.38.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. During the same quarter in the previous year, the firm posted ($1.59) EPS. The business’s revenue was up 47.5% on a year-over-year basis. On average, equities analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

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.