Rubrik, Inc.’s Lock-Up Period Set To End Tomorrow (NYSE:RBRK)

Rubrik’s (NYSE:RBRK) lock-up period is set to end on Tuesday, October 22nd. Rubrik had issued 23,500,000 shares in its IPO on April 25th. The total size of the offering was $752,000,000 based on an initial share price of $32.00. After the end of Rubrik’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

RBRK has been the subject of several recent research reports. Baird R W raised Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Wells Fargo & Company cut their price objective 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. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a research report on Tuesday, September 10th. Truist Financial reaffirmed a “buy” rating and set a $43.00 price target on shares of Rubrik in a report on Tuesday, September 10th. Finally, Wedbush increased their price objective on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Sixteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Rubrik currently has an average rating of “Buy” and an average price target of $44.65.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $39.54 on Monday. The firm’s fifty day moving average price is $33.98. Rubrik has a 12-month low of $28.34 and a 12-month high of $41.33.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS 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 analysts’ expectations of $195.58 million. On average, sell-side analysts forecast that Rubrik will post -7.95 earnings per share for the current fiscal year.

Insider Activity at Rubrik

In related news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction 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 sale, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 368,329 shares of company stock valued at $12,241,803.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RBRK. Quent Capital LLC acquired a new position in shares of Rubrik in the 3rd quarter worth approximately $192,000. Register Financial Advisors LLC acquired a new position in Rubrik in 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 acquired a new stake in shares of Rubrik in the second quarter valued at $242,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Rubrik in the second quarter valued at $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.