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

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

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

Rubrik Price Performance

Shares of NYSE:RBRK traded up $1.36 on Thursday, hitting $68.09. 2,423,998 shares of the company traded hands, compared to its average volume of 2,428,840. The stock has a 50 day simple moving average of $59.24 and a 200-day simple moving average of $43.23. Rubrik, Inc. has a 52 week low of $28.34 and a 52 week high of $75.79.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RBRK shares. Rosenblatt Securities started coverage on Rubrik in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. FBN Securities began coverage on shares of Rubrik in a report on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price on the stock. Citigroup upped their price target on shares of Rubrik from $48.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Barclays raised their price target on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $64.11.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the company. Dragoneer Investment Group LLC bought a new position in shares of Rubrik in the second quarter worth approximately $47,523,000. Champlain Investment Partners LLC purchased a new position in Rubrik in the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. bought a new position in Rubrik in the 3rd quarter valued at approximately $42,247,000. PointState Capital LP purchased a new stake in Rubrik during the 3rd quarter valued at $40,466,000. Finally, Institutional Venture Management XV LLC increased its holdings in shares of Rubrik by 3,620.4% in the 3rd 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 in the last quarter. 49.54% of the stock is currently owned by institutional investors.

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.