Rubrik (NYSE:RBRK) Shares Gap Down – Time to Sell?

Shares of Rubrik, Inc. (NYSE:RBRK) gapped down prior to trading on Thursday . The stock had previously closed at $66.73, but opened at $65.02. Rubrik shares last traded at $65.40, with a volume of 771,566 shares trading hands.

Analyst Ratings Changes

RBRK has been the topic of several recent research reports. Rosenblatt Securities initiated coverage on shares of Rubrik in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Wedbush lifted their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price target on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Truist Financial lifted their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, 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. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $64.11.

Rubrik Stock Down 2.1 %

The stock’s fifty day simple moving average is $59.24 and its 200-day simple moving average is $43.23.

Insider Transactions at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,499 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $67.66, for a total transaction of $2,198,882.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Brian K. Mccarthy sold 65,517 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $66.06, for a total transaction of $4,328,053.02. Following the sale, the executive now directly owns 406,043 shares of the company’s stock, valued at approximately $26,823,200.58. This trade represents a 13.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 394,159 shares of company stock valued at $23,218,764.

Institutional Trading of Rubrik

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC lifted its holdings in shares of Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after acquiring an additional 300 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the 3rd quarter worth approximately $25,000. Hamilton Lane Advisors LLC increased its position in Rubrik by 3.0% during the 4th quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock worth $2,224,000 after purchasing an additional 980 shares in the last quarter. KBC Group NV acquired a new position in Rubrik during the 3rd quarter worth approximately $72,000. Finally, Shikiar Asset Management Inc. acquired a new position in Rubrik during the 4th quarter worth approximately $203,000. Institutional investors own 49.54% of the company’s stock.

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.