Arvind Nithrakashyap Sells 227,596 Shares of Rubrik, Inc. (NYSE:RBRK) Stock

Rubrik, Inc. (NYSE:RBRK) CTO Arvind Nithrakashyap sold 227,596 shares of Rubrik stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the sale, the chief technology officer now owns 219,279 shares in the company, valued at approximately $14,229,014.31. The trade was a 50.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Arvind Nithrakashyap also recently made the following trade(s):

• On Wednesday, January 8th, Arvind Nithrakashyap sold 32,485 shares of Rubrik stock. The stock was sold at an average price of $63.46, for a total value of $2,061,498.10.
• On Monday, January 6th, Arvind Nithrakashyap sold 32,499 shares of Rubrik stock. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34.

Rubrik Stock Down 0.8 %

Shares of RBRK stock opened at $67.68 on Friday. Rubrik, Inc. has a 1-year low of $28.34 and a 1-year high of $75.79. The company has a 50-day moving average of $60.17 and a two-hundred day moving average of $43.66.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RBRK shares. Piper Sandler lifted their target price on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Rosenblatt Securities assumed coverage on shares of Rubrik in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Robert W. Baird raised their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Finally, BMO Capital Markets upped their price target on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two equities 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, Rubrik currently has a consensus rating of “Buy” and an average price target of $64.67.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently made changes to their positions in the stock. Dragoneer Investment Group LLC purchased a new stake in Rubrik in the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC acquired a new stake in shares of Rubrik in the third quarter valued at $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik in the 3rd quarter valued at $42,247,000. PointState Capital LP acquired a new position in Rubrik during the 3rd quarter worth about $40,466,000. Finally, Institutional Venture Management XV LLC boosted its holdings in Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after acquiring an additional 1,131,360 shares during the period. 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.