Arvind Nithrakashyap Sells 227,596 Shares of Rubrik, Inc. (NYSE:RBRK) Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 227,596 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the completion of the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at $14,229,014.31. This trade represents a 50.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction 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 transaction of $2,198,882.34.

Rubrik Trading Up 2.0 %

Rubrik stock opened at $68.09 on Friday. The business’s 50-day simple moving average is $59.71 and its 200 day simple moving average is $43.40. Rubrik, Inc. has a 12-month low of $28.34 and a 12-month high of $75.79.

Analysts Set New Price Targets

RBRK has been the topic of several analyst reports. Truist Financial upped their price objective on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Cantor Fitzgerald upped their price target on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. KeyCorp increased their price objective on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets boosted their target price on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Oppenheimer initiated coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Two research 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. Based on data from MarketBeat.com, Rubrik has a consensus rating of “Buy” and an average price target of $64.11.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new stake in shares of Rubrik during the second quarter worth $503,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Rubrik during the 2nd quarter worth about $3,270,000. Sei Investments Co. bought a new stake in shares of Rubrik in the 2nd quarter valued at about $235,000. Octahedron Capital Management L.P. acquired a new stake in shares of Rubrik in the 2nd quarter valued at approximately $4,936,000. Finally, Ensign Peak Advisors Inc bought a new position in Rubrik during the 2nd quarter worth approximately $6,287,000. 49.54% of the stock is owned by institutional investors.

Rubrik Company Profile

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.