Rubrik (NYSE:RBRK) Shares Down 4.6% – Here’s Why

Rubrik, Inc. (NYSE:RBRK)’s stock price dropped 4.6% during trading on Tuesday . The company traded as low as $94.16 and last traded at $93.5390. Approximately 866,010 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,704,411 shares. The stock had previously closed at $98.04.

Wall Street Analyst Weigh In

Several analysts have issued reports on RBRK shares. Scotiabank reaffirmed an “outperform” rating on shares of Rubrik in a research report on Tuesday. Mizuho upped their price objective on Rubrik from $90.00 to $112.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rubrik in a research report on Wednesday, June 24th. Wells Fargo & Company lifted their target price on Rubrik from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $91.00 target price (up from $84.00) on shares of Rubrik in a report on Friday, June 5th. Twenty-nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rubrik has a consensus rating of “Moderate Buy” and an average target price of $103.96.

Rubrik Price Performance

The company’s fifty day simple moving average is $82.73 and its 200-day simple moving average is $66.22. The firm has a market capitalization of $19.12 billion, a PE ratio of -64.13 and a beta of 1.17.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.19. The business had revenue of $387.07 million for the quarter, compared to analyst estimates of $366.31 million. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. As a group, equities research analysts anticipate that Rubrik, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Activity at Rubrik

In other news, CTO Arvind Nithrakashyap sold 199,447 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $84.28, for a total transaction of $16,809,393.16. Following the sale, the chief technology officer owned 314,048 shares in the company, valued at approximately $26,467,965.44. The trade was a 38.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Mhatre sold 3,979 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $71.49, for a total transaction of $284,458.71. Following the transaction, the director owned 113,477 shares in the company, valued at approximately $8,112,470.73. This trade represents a 3.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 317,682 shares of company stock valued at $26,402,176 in the last ninety days. Corporate insiders own 13.66% of the company’s stock.

Institutional Trading of Rubrik

A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank grew its position in Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock worth $36,000 after purchasing an additional 395 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Rubrik by 231.3% in the first quarter. Royal Bank of Canada now owns 29,320 shares of the company’s stock worth $1,789,000 after buying an additional 20,471 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Rubrik by 31.6% during the first quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock worth $76,000 after buying an additional 300 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Rubrik by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company’s stock worth $57,343,000 after buying an additional 236,181 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Rubrik by 204.1% during the first quarter. Rhumbline Advisers now owns 2,980 shares of the company’s stock valued at $182,000 after buying an additional 2,000 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Company Profile

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).