Rubrik, Inc. (NYSE:RBRK) Short Interest Update

Rubrik, Inc. (NYSE:RBRK) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 3,550,000 shares, a drop of 16.5% from the November 15th total of 4,250,000 shares. Currently, 6.2% of the shares of the stock are sold short. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Guggenheim lifted their price objective on shares of Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Robert W. Baird upped their price target on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Wells Fargo & Company boosted their price objective on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Mizuho boosted their price objective on shares of Rubrik from $47.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, FBN Securities assumed coverage on Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $61.88.

Rubrik Stock Down 2.7 %

Shares of RBRK opened at $72.18 on Friday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $74.99. The firm’s 50 day moving average price is $46.55 and its 200 day moving average price is $37.51.

Insider Activity

In other news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $69.70, for a total transaction of $125,460.00. Following the completion of the transaction, the chief financial officer now owns 342,160 shares in the company, valued at approximately $23,848,552. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 560,779 shares of company stock worth $22,317,557.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RBRK. Zweig DiMenna Associates LLC purchased a new position in shares of Rubrik in the 2nd quarter valued at about $6,730,000. EFG Asset Management North America Corp. purchased a new stake in Rubrik during the 2nd quarter worth about $925,000. ARK Investment Management LLC acquired a new stake in shares of Rubrik during the 2nd quarter worth about $6,043,000. Cisco Systems Inc. acquired a new position in Rubrik in the second quarter valued at approximately $5,613,000. Finally, Commonwealth Equity Services LLC purchased a new position in Rubrik in the second quarter valued at approximately $503,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.