Rubrik Sees Unusually High Options Volume (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK) was the target of some unusual options trading on Friday. Stock traders purchased 6,624 call options on the company. This represents an increase of approximately 78% compared to the average daily volume of 3,712 call options.

Rubrik Price Performance

NYSE:RBRK opened at $70.54 on Friday. Rubrik has a 1-year low of $28.34 and a 1-year high of $80.00. The business’s fifty day moving average price is $68.20 and its 200 day moving average price is $53.27.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.59) earnings per share. Analysts predict that Rubrik will post -7.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on RBRK. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday. Wells Fargo & Company boosted their price objective on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler boosted their price objective on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird dropped their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Mizuho boosted their price objective on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Rubrik has an average rating of “Buy” and an average target price of $69.78.

Insider Activity at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,484 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the completion of the transaction, the chief technology officer now owns 219,279 shares in the company, valued at approximately $13,505,393.61. The trade was a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the transaction, the director now owns 153 shares of the company’s stock, valued at $10,342.80. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 625,712 shares of company stock worth $41,583,311 in the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in Rubrik by 6.9% in the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after purchasing an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rubrik in the third quarter valued at about $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rubrik by 24.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock valued at $7,998,000 after purchasing an additional 49,372 shares in the last quarter. Renaissance Capital LLC grew its stake in Rubrik by 21.2% in the fourth quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock valued at $4,757,000 after purchasing an additional 12,714 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Rubrik in the third quarter valued at about $336,000. 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.