Short Interest in Rubrik, Inc. (NYSE:RBRK) Increases By 75.0%

Rubrik, Inc. (NYSE:RBRK) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 8,820,000 shares, an increase of 75.0% from the December 15th total of 5,040,000 shares. Approximately 12.2% of the company’s stock are sold short. Based on an average daily trading volume, of 2,450,000 shares, the days-to-cover ratio is presently 3.6 days.

Rubrik Trading Up 4.2 %

Shares of NYSE RBRK traded up $2.71 during midday trading on Wednesday, hitting $67.80. 1,006,000 shares of the stock traded hands, compared to its average volume of 2,252,614. Rubrik has a one year low of $28.34 and a one year high of $75.79. The business has a 50 day moving average price of $58.77 and a two-hundred day moving average price of $43.06.

Analysts Set New Price Targets

A number of brokerages recently commented on RBRK. Citigroup raised their price target on Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. BMO Capital Markets raised their price objective on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Barclays raised their price objective on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. FBN Securities started coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Guggenheim raised their price objective on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $64.11.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 7,583 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $40.14, for a total value of $304,381.62. Following the transaction, the chief financial officer now owns 438,560 shares in the company, valued at approximately $17,603,798.40. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Brian K. Mccarthy sold 65,517 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $66.06, for a total value of $4,328,053.02. Following the completion of the transaction, the executive now owns 406,043 shares in the company, valued at $26,823,200.58. The trade was a 13.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 401,742 shares of company stock valued at $23,523,146.

Institutional Investors Weigh In On Rubrik

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC bought a new stake in shares of Rubrik during the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC purchased a new position in Rubrik in the third quarter worth $44,418,000. Point72 Asset Management L.P. purchased a new position in Rubrik in the third quarter worth $42,247,000. PointState Capital LP purchased a new position in Rubrik in the third quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC boosted its position in Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after purchasing an additional 1,131,360 shares during the last quarter. 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.