Short Interest in Rubrik, Inc. (NYSE:RBRK) Increases By 75.0%

Rubrik, Inc. (NYSE:RBRK) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 8,820,000 shares, an increase of 75.0% from the December 15th total of 5,040,000 shares. Approximately 12.2% of the shares of the company are short sold. Based on an average trading volume of 2,450,000 shares, the short-interest ratio is currently 3.6 days.

Insider Transactions at Rubrik

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the completion of the transaction, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at $16,668,564. This trade represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 401,742 shares of company stock worth $23,523,146.

Institutional Trading of Rubrik

A number of large investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the 3rd quarter worth approximately $25,000. KBC Group NV acquired a new position in Rubrik during the 3rd quarter worth approximately $72,000. Quent Capital LLC acquired a new stake in shares of Rubrik in the 3rd quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Rubrik in the 3rd quarter valued at approximately $208,000. Finally, Sei Investments Co. acquired a new stake in shares of Rubrik in the 2nd quarter valued at approximately $235,000. 49.54% of the stock is owned by institutional investors.

Rubrik Price Performance

NYSE RBRK traded up $2.71 during trading hours on Wednesday, reaching $67.80. 1,006,000 shares of the company’s stock were exchanged, compared to its average volume of 2,252,614. The company’s 50-day moving average is $58.77 and its two-hundred day moving average is $43.06. Rubrik has a one year low of $28.34 and a one year high of $75.79.

Analysts Set New Price Targets

RBRK has been the subject of a number of analyst reports. Barclays lifted their price objective on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Mizuho upped their price target on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Citigroup upped their price target on shares of Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler upped their price target on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets upped their price target on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $64.11.

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.