Rubrik, Inc. (NYSE:RBRK) CRO Sells $2,060,604.90 in Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 28,485 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $2,060,604.90. Following the completion of the sale, the executive now directly owns 346,560 shares of the company’s stock, valued at approximately $25,070,150.40. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rubrik Stock Performance

Shares of RBRK stock opened at $66.12 on Friday. The company’s fifty day moving average price is $49.37 and its 200-day moving average price is $38.56. Rubrik, Inc. has a 12 month low of $28.34 and a 12 month high of $75.79.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC purchased a new stake in Rubrik in the second quarter worth about $47,523,000. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik in the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. bought a new position in Rubrik during the 3rd quarter valued at approximately $42,247,000. PointState Capital LP bought a new position in Rubrik during the 3rd quarter valued at approximately $40,466,000. Finally, Institutional Venture Management XV LLC raised its stake in Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after buying an additional 1,131,360 shares during the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBRK has been the subject of several recent research reports. Oppenheimer started coverage on Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. Piper Sandler upped their price target on shares of Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird increased their price target on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Wells Fargo & Company boosted their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Mizuho increased their target price on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $64.11.

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.