Investors Buy High Volume of Call Options on Rubrik (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK) saw unusually large options trading activity on Friday. Investors acquired 6,624 call options on the company. This is an increase of 78% compared to the average volume of 3,712 call options.

Insider Transactions at Rubrik

In related news, CTO Arvind Nithrakashyap sold 227,596 shares of the business’s stock in a transaction on 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 directly owns 219,279 shares of the company’s stock, valued at approximately $14,229,014.31. The trade was a 50.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 28,485 shares of Rubrik stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total transaction of $2,060,604.90. Following the completion of the sale, the executive now owns 346,560 shares in the company, valued at $25,070,150.40. The trade was a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 625,712 shares of company stock valued at $41,583,311 over the last three months.

Institutional Trading of Rubrik

Hedge funds have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new stake in Rubrik in the third quarter valued at approximately $25,000. Russell Investments Group Ltd. acquired a new stake in Rubrik in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC raised its stake in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Nemes Rush Group LLC bought a new position in shares of Rubrik during the fourth quarter valued at $39,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Rubrik during the fourth quarter valued at $47,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on RBRK. Mizuho lifted their price target on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their price target on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets lifted their price target on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday. Guggenheim restated a “buy” rating and set a $76.00 price objective on shares of Rubrik in a research note on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $69.78.

Rubrik Trading Up 27.6 %

NYSE RBRK opened at $70.54 on Friday. The firm’s 50 day simple moving average is $68.27 and its 200 day simple moving average is $53.64. Rubrik has a 1 year low of $28.34 and a 1 year high of $80.00.

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

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.