Rubrik (NYSE:RBRK) Shares Down 7.3% – Time to Sell?

Rubrik, Inc. (NYSE:RBRK)’s stock price dropped 7.3% during trading on Monday . The company traded as low as $58.84 and last traded at $59.03. Approximately 952,033 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,992,379 shares. The stock had previously closed at $63.66.

Analyst Ratings Changes

A number of analysts have recently weighed in on RBRK shares. BMO Capital Markets upped their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Guggenheim boosted their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. William Blair started coverage on Rubrik in a research report on Friday, February 7th. They issued a “market perform” rating on the stock. Piper Sandler boosted their price objective on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company increased their target price on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of “Buy” and a consensus price target of $70.00.

Rubrik Stock Down 0.9 %

The firm has a 50-day moving average of $68.74 and a 200 day moving average of $56.78. The stock has a market capitalization of $11.47 billion and a P/E ratio of -4.39.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The business’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.59) earnings per share. Analysts predict that Rubrik, Inc. will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $60.22, for a total value of $1,505,500.00. Following the sale, the executive now owns 579,217 shares in the company, valued at approximately $34,880,447.74. The trade was a 4.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the sale, the director now owns 153 shares of the company’s stock, valued at $10,342.80. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 817,426 shares of company stock valued at $54,693,394.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in Rubrik during the 4th quarter valued at $28,000. Global Retirement Partners LLC grew its holdings in shares of Rubrik by 8,333.3% during the fourth 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 last quarter. Nemes Rush Group LLC acquired a new stake in shares of Rubrik in the fourth quarter valued at $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik in the fourth quarter valued at $47,000. Finally, Quarry LP bought a new position in shares of Rubrik in the fourth quarter valued at about $48,000. 49.54% of the stock is owned by institutional investors and hedge funds.

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.