Rubrik, Inc.’s (NYSE:RBRK) Lock-Up Period Will End on October 22nd

Rubrik’s (NYSE:RBRK) lock-up period will end on Tuesday, October 22nd. Rubrik had issued 23,500,000 shares in its public offering on April 25th. The total size of the offering was $752,000,000 based on an initial share price of $32.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RBRK. FBN Securities began coverage on shares of Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price on the stock. Baird R W upgraded shares of Rubrik to a “strong-buy” rating in a research report on Monday, July 15th. Guggenheim restated a “buy” rating and issued a $48.00 price target on shares of Rubrik in a research report on Tuesday, June 25th. Citigroup boosted their price target on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company reduced 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. Sixteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $44.41.

Rubrik Stock Down 0.7 %

RBRK opened at $39.26 on Tuesday. The business’s 50 day simple moving average is $33.34. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $40.36.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. On average, equities research analysts anticipate that Rubrik will post -7.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the sale, the executive now owns 437,545 shares of the company’s stock, valued at approximately $13,673,281.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 297,529 shares of company stock valued at $9,445,527.

Institutional Investors Weigh In On Rubrik

Large investors have recently made changes to their positions in the stock. Quent Capital LLC bought a new stake in shares of Rubrik during the third quarter worth $192,000. Register Financial Advisors LLC bought a new stake in shares of Rubrik during the second quarter worth $227,000. Sei Investments Co. bought a new stake in shares of Rubrik during the second quarter worth $235,000. PFG Investments LLC bought a new stake in shares of Rubrik during the second quarter worth $242,000. Finally, Natixis Advisors LLC bought a new stake in shares of Rubrik during the second quarter worth $406,000.

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.