Enrique T. Salem Sells 21,924 Shares of Rubrik, Inc. (NYSE:RBRK) Stock

Rubrik, Inc. (NYSE:RBRK) Director Enrique T. Salem sold 21,924 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $89.78, for a total value of $1,968,336.72. Following the sale, the director now directly owns 6,937 shares of the company’s stock, valued at $622,803.86. This represents a 75.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rubrik Stock Performance

Shares of RBRK opened at $87.73 on Friday. The firm has a market capitalization of $16.98 billion, a P/E ratio of -31.00 and a beta of 0.87. Rubrik, Inc. has a 52 week low of $28.60 and a 52 week high of $103.00. The stock has a 50 day moving average price of $84.55 and a two-hundred day moving average price of $72.93.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.17. The company had revenue of $278.48 million during the quarter, compared to analysts’ expectations of $260.39 million. During the same period in the previous year, the company posted ($1.58) earnings per share. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. On average, equities analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RBRK shares. Guggenheim increased their price target on Rubrik from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Truist Financial increased their target price on shares of Rubrik from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Wedbush lifted their price target on shares of Rubrik from $80.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Rosenblatt Securities upped their price objective on shares of Rubrik from $82.00 to $110.00 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, Mizuho downgraded Rubrik from an “outperform” rating to a “neutral” rating and raised their target price for the company from $75.00 to $86.00 in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rubrik presently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently made changes to their positions in RBRK. Rhumbline Advisers purchased a new position in Rubrik during the fourth quarter worth about $64,000. 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 worth $33,000 after buying an additional 500 shares in the last quarter. Versor Investments LP purchased a new position in shares of Rubrik in the 4th quarter worth approximately $648,000. Dynasty Wealth Management LLC bought a new position in shares of Rubrik in the fourth quarter valued at approximately $291,000. Finally, US Bancorp DE grew its holdings in shares of Rubrik by 1,329.9% in the fourth quarter. US Bancorp DE now owns 19,547 shares of the company’s stock valued at $1,278,000 after acquiring an additional 18,180 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.