Rubrik Target of Unusually High Options Trading (NYSE:RBRK)

Rubrik, Inc. (NYSE:RBRK) was the target of unusually large options trading on Thursday. Investors bought 20,870 call options on the stock. This is an increase of approximately 191% compared to the typical daily volume of 7,160 call options.

Insider Activity

In other Rubrik news, CFO Kiran Kumar Choudary sold 20,000 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $67.66, for a total value of $1,353,200.00. Following the sale, the chief financial officer owned 489,959 shares of the company’s stock, valued at $33,150,625.94. This represents a 3.92% 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, insider Brian K. Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $70.88, for a total transaction of $708,800.00. Following the transaction, the insider directly owned 330,772 shares of the company’s stock, valued at approximately $23,445,119.36. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 247,878 shares of company stock valued at $18,152,721 in the last 90 days. Insiders own 32.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Allworth Financial LP increased its stake in Rubrik by 1,030.8% during the second quarter. Allworth Financial LP now owns 294 shares of the company’s stock worth $26,000 after acquiring an additional 268 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of Rubrik by 352.2% during the 3rd quarter. Bogart Wealth LLC now owns 312 shares of the company’s stock worth $26,000 after purchasing an additional 243 shares during the period. EverSource Wealth Advisors LLC increased its position in Rubrik by 1,360.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $30,000 after purchasing an additional 340 shares in the last quarter. Financial Life Planners purchased a new position in Rubrik in the third quarter valued at approximately $31,000. Finally, Atlantic Union Bankshares Corp raised its holdings in Rubrik by 100.0% in the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Price Performance

NYSE:RBRK traded down $2.66 during trading hours on Thursday, reaching $54.86. 2,682,324 shares of the company were exchanged, compared to its average volume of 3,714,556. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of -28.38 and a beta of 0.45. The stock has a 50 day simple moving average of $60.02 and a 200 day simple moving average of $72.22. Rubrik has a 52-week low of $46.36 and a 52-week high of $103.00.

Analysts Set New Price Targets

A number of research firms have issued reports on RBRK. DA Davidson began coverage on shares of Rubrik in a report on Monday, February 23rd. They issued a “buy” rating and a $65.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Rubrik in a research note on Friday, December 5th. BMO Capital Markets decreased their target price on shares of Rubrik from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Berenberg Bank began coverage on Rubrik in a report on Tuesday, November 18th. They issued a “buy” rating and a $114.00 price target for the company. Finally, Robert W. Baird decreased their price objective on Rubrik from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.68.

About Rubrik

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).