Rubrik (NYSE:RBRK) Stock Price Down 2% on Insider Selling

Shares of Rubrik, Inc. (NYSE:RBRK) dropped 2% on Wednesday after an insider sold shares in the company. The company traded as low as $31.59 and last traded at $31.59. Approximately 63,397 shares were traded during trading, a decline of 95% from the average daily volume of 1,261,109 shares. The stock had previously closed at $32.24.

Specifically, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

RBRK has been the topic of several research reports. Piper Sandler began coverage on shares of Rubrik in a research report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price objective on shares of Rubrik in a research note on Tuesday, September 10th. Baird R W raised Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Robert W. Baird assumed coverage on Rubrik in a research note on Monday, July 15th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, CIBC increased their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Fifteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik presently has a consensus rating of “Buy” and a consensus price target of $44.69.

Rubrik Trading Down 0.9 %

The stock’s 50 day moving average is $33.52.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC purchased a new stake in Rubrik in the second quarter valued at approximately $6,043,000. EPIQ Capital Group LLC purchased a new stake in shares of Rubrik during the 2nd quarter valued at $15,111,000. Liberty Street Advisors Inc. bought a new stake in shares of Rubrik during the 2nd quarter worth $4,117,000. Roubaix Capital LLC bought a new stake in shares of Rubrik during the 2nd quarter worth $2,115,000. Finally, Natixis Advisors LLC purchased a new position in Rubrik in the second quarter worth $406,000.

Rubrik Company Profile

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.