Interactive Brokers shares jump as it secures spot in S&P 500
This transaction followed the vesting and settlement of performance-based restricted stock units initially granted to Sinha in May 2018. The proceeds from this block sale were primarily used to cover tax withholding obligations related to the settlement of these performance-based units. Additionally, Sinha gifted 342,000 shares of Class A common stock, which were converted from an equal number of Class B shares previously held. After these transactions, Sinha's direct ownership stands at 31,312 shares. The company, now valued at $13.74 billion, has shown strong business momentum with 33.22% revenue growth in the last twelve months. Get deeper insights into Rubrik's valuation and 14 additional key metrics with InvestingPro. The company, now valued at $13.74 billion, has shown strong business momentum with 33.22% revenue growth in the last twelve months. Get deeper insights into Rubrik's valuation and 14 additional key metrics with InvestingPro. This transaction followed the vesting and settlement of performance-based restricted stock units initially granted to Sinha in May 2018.
The proceeds from this block sale were primarily used to cover tax withholding obligations related to the settlement of these performance-based units. Additionally, Sinha gifted 342,000 shares of Class A common stock, which were converted from an equal number of Class B shares previously held. After these transactions, Sinha's direct ownership stands at 31,312 shares.
In other recent news, Rubrik Inc., the data management company, has been making waves with its impressive financial performance. The company recently surpassed earnings expectations and raised its full-year revenue guidance. The earnings report highlighted a substantial revenue growth of 24.7%, surpassing the $217.6 million estimate with a total revenue of $236.2 million. This strong performance led to positive responses from analyst firms such as BMO Capital Markets, Truist Securities, and KeyBanc, which have raised their price targets for Rubrik.
In addition to the earnings report, Rubrik also announced a significant block trade of 1.16 million shares, representing 1.3% of the company's float, with a market value of $81.4 million. This transaction, which took place at a 5.3% discount compared to the closing price on a recent trading day, accounts for 43% of Rubrik's 20-day average trading volume.
Analyst firms have been bullish on Rubrik, with BMO Capital Markets upgrading its price target from $38.00 to $72.00, and Goldman Sachs raising its target to $72 on the back of strong F3Q results. Piper Sandler also increased the stock's price target to $72 from $42 while maintaining an Overweight rating.
Looking ahead, Rubrik forecasts revenue between $860 million and $862 million for 2025, an increase from the previous $830 million to $838 million range. The company also expects an adjusted loss per share of $1.82 to $1.86, an improvement from the earlier forecast of $2.06 to $2.12 loss per share. These recent developments point to Rubrik's strong position in the market and its potential for continued growth.
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