Rubrik, Inc.’s Lock-Up Period Set To Expire on October 22nd (NYSE:RBRK)

Rubrik’s (NYSE:RBRK) lock-up period will end on Tuesday, October 22nd. Rubrik had issued 23,500,000 shares in its initial 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 major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

RBRK has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Piper Sandler assumed coverage on shares of Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a research note on Tuesday, September 10th. Baird R W raised shares of Rubrik to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Wedbush increased their price objective on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Sixteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.65.

Rubrik Price Performance

Shares of RBRK stock opened at $38.52 on Tuesday. Rubrik has a twelve month low of $28.34 and a twelve month high of $41.33. The stock has a fifty day moving average price of $33.98.

Rubrik (NYSE:RBRK) last released its quarterly earnings data 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 the consensus estimate of $195.58 million. As a group, equities analysts forecast that Rubrik will post -7.95 EPS for the current year.

Insider Activity

In related news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now owns 56,736 shares of the company’s stock, valued at $1,857,536.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 375,912 shares of company stock worth $12,546,185.

Institutional Investors Weigh In On Rubrik

Institutional investors have recently bought and sold shares of the company. Renaissance Capital LLC raised its stake in Rubrik by 190.1% in the third quarter. Renaissance Capital LLC now owns 60,061 shares of the company’s stock valued at $1,931,000 after buying an additional 39,354 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Rubrik in the 3rd quarter valued at approximately $432,000. Quent Capital LLC acquired a new stake in Rubrik in the 3rd quarter worth approximately $192,000. SG Americas Securities LLC purchased a new stake in Rubrik during the 3rd quarter worth approximately $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Rubrik during the 2nd quarter valued at approximately $7,665,000.

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.