Rubrik, Inc. CFO Sells Shares Worth $92,718

On December 4th, Kiran Kumar Choudary, the CFO of Rubrik, Inc. (NYSE:RBRK), sold 1,800 shares of the company's stock. The shares were sold at an average price of $51.51, resulting in a total transaction value of $92,718. After this sale, Choudary now owns 372,960 shares of Rubrik, which have a market value of approximately $19,211,169.60. This recent sale marks a slight reduction of 0.48% in his ownership percentage of the company's stock. The details of the transaction were made public in a filing with the Securities and Exchange Commission (SEC), accessible on their official website.

In addition to the aforementioned sale, Choudary has been active in selling shares of Rubrik in recent months. Notably, on December 6th, he sold 30,000 shares at an average price of $65.78, amounting to $1,973,400. On November 26th, he sold 1,800 shares at an average price of $50.38 for $90,684. Further trades include the sale of 10,000 shares on November 22nd at $50.31, totaling $503,100; 1,800 shares on November 20th at $45.00 ($81,000); and 10,000 shares on November 14th at $44.48 for $444,800. Additionally, on November 11th, he sold 2,670 shares for $120,336.90, and he had earlier sold 7,330 shares on November 8th at $45.04, resulting in $330,143.20. There was also an earlier sale of 1,800 shares on November 6th at $43.15 for $77,670, and 11,800 shares on October 22nd at $38.49 for a total of $454,182. Lastly, he sold 4,500 shares on October 31st at $41.99, which came to $188,955.

Rubrik's Stock Performance

On the trading day following these transactions, Rubrik’s stock experienced a notable rise, increasing by $10.88 to reach $64.54. A total of 17,244,195 shares were traded during this session, significantly higher than its average volume of 1,587,887 shares. Over the past fifty days, the stock has maintained a simple moving average of $42.00, and its two-hundred day moving average stands at $35.98. For context, Rubrik’s shares have seen a low of $28.34 and a high of $72.66 over the past year.

Recent Earnings and Analyst Ratings

Rubrik recently released its quarterly earnings results on September 9th, where it reported an earnings per share (EPS) of ($0.97), slightly missing the consensus estimate of ($0.96) by $0.01. The company earned $204.95 million in revenue for the quarter, exceeding analysts’ expectations of $195.58 million. Analysts project that Rubrik will report an EPS of -8.04 for the current fiscal year.

In the wake of these results, several analysts have revisited their ratings for Rubrik. Wedbush raised its price target from $44.00 to $48.00, maintaining an “outperform” rating. Guggenheim raised its price target from $52.00 to $72.00, giving a “buy” rating. FBN Securities initiated coverage with an “outperform” rating and a price target of $40.00. Truist Financial increased its price target from $50.00 to $75.00, affirming a “buy” rating. Piper Sandler reaffirmed its “overweight” rating and revised its price target from $42.00 to $72.00. Overall, analysts have a consensus rating of “Buy” along with an average price target of $60.59.

Institutional Activity

Recent activity among hedge funds shows an increase in positions held in Rubrik. For instance, Brown Brothers Harriman & Co. purchased shares valued at $25,000 in the third quarter. KBC Group NV made a similar acquisition worth $72,000, while Quent Capital LLC acquired Rubrik shares worth $192,000. Mount Yale Investment Advisors LLC also established a new stake worth $208,000, and Sei Investments Co. invested $235,000 during the second quarter.

About Rubrik, Inc.

Rubrik, Inc. provides a range of data security solutions catering to both individuals and businesses globally. Their offerings include enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions. In addition, they offer data threat analytics, data security posture management, and cyber recovery solutions, serving various sectors including finance, healthcare, technology, retail, and public services.

Rubrik, CFO, Stock, Sale, Market