Rubrik, Inc.’s (NYSE:RBRK) Lock-Up Period Set To End on October 22nd

Rubrik’s (NYSE:RBRK) lock-up period will expire on Tuesday, October 22nd. Rubrik had issued 23,500,000 shares in its IPO on April 25th. The total size of the offering was $752,000,000 based on an initial share price of $32.00. After the end of Rubrik’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RBRK. Guggenheim restated a “buy” rating and issued a $48.00 price objective on shares of Rubrik in a research note on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a research note on Tuesday, September 10th. Robert W. Baird began coverage on shares of Rubrik in a research report on Monday, July 15th. They set an “outperform” rating and a $42.00 price target on the stock. Baird R W raised Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Finally, Citigroup raised their price objective on Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Sixteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Rubrik presently has a consensus rating of “Buy” and a consensus price target of $44.65.

Rubrik Trading Down 2.6 %

RBRK opened at $38.52 on Tuesday. Rubrik has a twelve month low of $28.34 and a twelve month high of $41.33. The stock’s 50-day simple moving average is $33.98.

Rubrik (NYSE:RBRK) last issued its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. Equities analysts predict that Rubrik will post -7.95 EPS for the current year.

Insiders Place Their Bets

In other Rubrik news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Kiran Kumar Choudary sold 51,924 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the sale, the chief financial officer now directly owns 493,360 shares in the company, valued at approximately $15,496,437.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders sold 375,912 shares of company stock valued at $12,546,185 in the last three months.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dragoneer Investment Group LLC acquired a new stake in Rubrik in the 2nd quarter valued at approximately $47,523,000. Clearbridge Investments LLC purchased a new position in shares of Rubrik during the second quarter worth $32,888,000. EPIQ Capital Group LLC acquired a new stake in shares of Rubrik in the second quarter valued at $15,111,000. SG Americas Securities LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Rubrik during the 2nd quarter worth about $7,665,000.

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.