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

21 Oct 2024, 05:13 by Michael Walen · The Markets Daily

Rubrik’s (NYSE:RBRK – Get Free Report) 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. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RBRK. Baird R W raised Rubrik to a “strong-buy” rating in a research note on Monday, July 15th. Wedbush increased their price target 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. Robert W. Baird began coverage on shares of Rubrik in a research note on Monday, July 15th. They issued an “outperform” rating and a $42.00 price objective for the company. CIBC upped their target price on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Finally, FBN Securities began coverage on shares of Rubrik in a research report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target for the company. 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.com, Rubrik has a consensus rating of “Buy” and an average target price of $44.65.

Read Our Latest Stock Report on RBRK

Rubrik Stock Up 0.2 %

Shares of NYSE:RBRK opened at $39.54 on Monday. The business’s 50 day moving average is $33.98. Rubrik has a twelve month low of $28.34 and a twelve month high of $41.33.

Rubrik (NYSE:RBRK – Get Free Report) last announced 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 analysts’ expectations of $195.58 million. On average, equities research analysts forecast that Rubrik will post -7.95 EPS for the current year.

Insider Activity at Rubrik

In other news, Director Ravi Mhatre sold 15,933 shares of the firm’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 transaction of $481,017.27. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Kiran Kumar Choudary sold 51,924 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the sale, the chief financial officer now directly owns 493,360 shares of the company’s stock, valued at approximately $15,496,437.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction dated 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. Insiders sold a total of 368,329 shares of company stock valued at $12,241,803 in the last three months.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Register Financial Advisors LLC acquired a new stake in shares of Rubrik during the second quarter valued at $227,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Rubrik during the 2nd quarter worth about $6,730,000. EFG Asset Management North America Corp. purchased a new stake in shares of Rubrik during the second quarter worth about $925,000. ARK Investment Management LLC acquired a new position in shares of Rubrik in the second quarter valued at approximately $6,043,000. Finally, Cisco Systems Inc. purchased a new position in shares of Rubrik during the second quarter valued at approximately $5,613,000.

Rubrik Company Profile

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