Rubrik, Inc. (NYSE:RBRK) CRO Sells $1,578,750.00 in Stock

Rubrik, Inc. (NYSE:RBRK) CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.15, for a total value of $1,578,750.00. Following the completion of the transaction, the executive now directly owns 356,043 shares in the company, valued at $22,484,115.45. This trade represents a 6.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $63.05 on Thursday. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $80.00. The company has a 50-day moving average price of $69.65 and a 200 day moving average price of $52.49.

Institutional Investors Weigh In On Rubrik

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after purchasing an additional 3,372,323 shares during the period. Norges Bank acquired a new stake in Rubrik in the fourth quarter valued at about $277,395,000. FMR LLC lifted its position in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after purchasing an additional 2,065,444 shares during the period. First Trust Advisors LP lifted its position in Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock valued at $206,278,000 after purchasing an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Rubrik by 27.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after purchasing an additional 427,149 shares during the period. Institutional investors and hedge funds own 49.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on RBRK. Rosenblatt Securities initiated coverage on Rubrik in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Citigroup raised their price objective on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler raised their price objective on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Robert W. Baird raised their price objective on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Finally, William Blair initiated coverage on Rubrik in a report on Friday, February 7th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.56.

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.