Rubrik, Inc. (NYSE:RBRK) Major Shareholder Lightspeed Management Company, Sells 13,213 Shares

Rubrik, Inc. (NYSE:RBRK) major shareholder Lightspeed Management Company, sold 13,213 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total value of $832,154.74. Following the transaction, the insider now directly owns 21,221 shares of the company’s stock, valued at approximately $1,336,498.58. This trade represents a 38.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Rubrik Trading Down 1.3 %

NYSE:RBRK opened at $61.48 on Friday. The stock has a 50 day simple moving average of $64.60 and a 200 day simple moving average of $58.79. The stock has a market cap of $11.67 billion and a P/E ratio of -4.46. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $80.00.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new stake in shares of Rubrik in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC lifted its position in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Nemes Rush Group LLC acquired a new stake in shares of Rubrik during the 4th quarter worth $39,000. Point72 Hong Kong Ltd bought a new position in shares of Rubrik in the fourth quarter worth $47,000. Finally, Quarry LP acquired a new position in Rubrik in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Wednesday, March 12th. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 17th. William Blair assumed coverage on Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. Finally, Guggenheim boosted their price target on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Two investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $68.83.

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.