Rubrik, Inc. (NYSE:RBRK) Major Shareholder Sells $3,274,000.00 in Stock

Rubrik, Inc. (NYSE:RBRK) major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the sale, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rubrik Stock Performance

Shares of Rubrik stock traded up $0.09 on Monday, reaching $33.38. The company had a trading volume of 1,282,185 shares, compared to its average volume of 1,396,864. The business has a 50 day simple moving average of $33.47. Rubrik, Inc. has a 52-week low of $28.34 and a 52-week high of $40.00.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC purchased a new stake in Rubrik during the 2nd quarter worth approximately $6,043,000. EPIQ Capital Group LLC purchased a new stake in Rubrik during the 2nd quarter worth approximately $15,111,000. Davidson Kempner Capital Management LP acquired a new position in Rubrik during the 2nd quarter worth approximately $2,606,000. Octahedron Capital Management L.P. acquired a new position in Rubrik during the 2nd quarter worth approximately $4,936,000. Finally, Liberty Street Advisors Inc. acquired a new position in Rubrik during the 2nd quarter worth approximately $4,117,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RBRK. Barclays lifted their target price on shares of Rubrik from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. Baird R W upgraded shares of Rubrik to a “strong-buy” rating in a research report on Monday, July 15th. Wells Fargo & Company lowered their price target on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. CIBC boosted their price target on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research report on Tuesday, September 10th. Finally, Piper Sandler started coverage on shares of Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 price target on the stock. Fifteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $44.69.

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.