Rubrik Sees Unusually High Options Volume (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK) was the target of some unusual options trading activity on Monday. Investors purchased 9,271 put options on the stock. This represents an increase of approximately 120% compared to the average volume of 4,211 put options.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RBRK shares. Wedbush upped their price objective on shares of Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Citigroup boosted their target price on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Guggenheim increased their price target on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Robert W. Baird lowered their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Finally, Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $70.00.

Rubrik Stock Down 4.2 %

Shares of NYSE RBRK opened at $60.96 on Tuesday. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00. The business’s 50 day moving average is $68.95 and its two-hundred day moving average is $56.57. The firm has a market cap of $11.29 billion and a price-to-earnings ratio of -4.42.

Rubrik (NYSE:RBRK) last posted its 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 during the quarter, compared to analysts’ expectations 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 firm posted ($1.59) earnings per share. Analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,499 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $67.06, for a total transaction of $1,676,500.00. Following the sale, the executive now directly owns 321,560 shares in the company, valued at approximately $21,563,813.60. This trade represents a 7.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 792,426 shares of company stock worth $53,187,894 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RBRK. Charles Schwab Investment Management Inc. boosted its position in Rubrik by 134.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock valued at $10,462,000 after buying an additional 186,485 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Rubrik during the 3rd quarter worth $265,000. BNP Paribas Financial Markets acquired a new position in Rubrik during the 3rd quarter worth $336,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rubrik during the 3rd quarter worth about $323,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Rubrik by 24.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock worth $7,998,000 after buying an additional 49,372 shares during the period. Institutional investors and hedge funds 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.