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

Rubrik, Inc. (NYSE:RBRK) was the recipient of a large 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. Currently, 12.2% of the company’s stock are sold short. Based on an average daily trading volume, of 2,450,000 shares, the days-to-cover ratio is currently 3.6 days.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 11,800 shares of Rubrik stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $38.49, for a total value of $454,182.00. Following the completion of the sale, the chief financial officer now directly owns 406,960 shares in the company, valued at $15,663,890.40. This trade represents a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the sale, the executive now directly owns 362,545 shares in the company, valued at approximately $18,265,017.10. This represents a 6.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 626,055 shares of company stock worth $38,276,205 in the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC increased its holdings in Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after acquiring an additional 300 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Rubrik in the third quarter valued at about $25,000. Hamilton Lane Advisors LLC increased its stake in shares of Rubrik by 3.0% during the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock worth $2,224,000 after purchasing an additional 980 shares in the last quarter. Diversify Wealth Management LLC increased its stake in shares of Rubrik by 2.2% during the fourth quarter. Diversify Wealth Management LLC now owns 57,499 shares of the company’s stock worth $3,649,000 after purchasing an additional 1,249 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Rubrik during the 3rd quarter worth about $72,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Wall Street Analyst Weigh In

RBRK has been the subject of a number of research reports. BMO Capital Markets lifted their price target on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Barclays lifted their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Piper Sandler increased their price target on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Rosenblatt Securities assumed coverage on shares of Rubrik in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Finally, Oppenheimer started coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Rubrik has an average rating of “Buy” and a consensus price target of $64.67.

Rubrik Stock Performance

RBRK stock traded down $0.56 during mid-day trading on Friday, reaching $67.68. 4,409,924 shares of the company’s stock were exchanged, compared to its average volume of 2,608,940. Rubrik has a 12-month low of $28.34 and a 12-month high of $75.79. The stock’s 50 day moving average is $60.17 and its 200 day moving average is $43.66.

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.