Interactive Brokers shares jump as it secures spot in S&P 500
Choudary Kiran Kumar, the Chief Financial Officer of Rubrik, Inc. (NASDAQ:RBRK), executed a significant stock sale, according to a recent SEC filing. On March 21, Kumar sold 87,971 shares of Class A Common Stock at an average price of $70.0442 per share, generating a total of approximately $6.16 million. The transaction comes amid Rubrik’s impressive market performance, with the stock up over 135% in the past six months and currently trading at $74.28, near its 52-week high of $80.
Following this transaction, Kumar holds 413,458 shares directly. The sale was conducted as part of a routine sell-to-cover transaction to meet tax obligations associated with the vesting of restricted stock units (RSUs). According to InvestingPro data, analysts maintain a strong bullish consensus on Rubrik, with price targets ranging from $47 to $90.
In addition to the sale, Kumar also acquired shares through the exercise of RSUs, converting 159,688 shares of Class B Common Stock into Class A Common Stock. This transaction did not involve any cash exchange.
These recent transactions reflect Kumar’s ongoing management of his equity holdings in Rubrik, a company specializing in prepackaged software services.
In other recent news, Rubrik Inc has been the focus of several analyst updates following its strong financial performance and promising future outlook. The company reported impressive fourth-quarter results for fiscal year 2025, with annual recurring revenue (ARR) and total revenue surpassing expectations. Rubrik’s guidance for fiscal year 2026 also projects growth and profitability above market consensus, leading Truist Securities to maintain a Buy rating with a $90 price target.
Guggenheim analysts increased their price target for Rubrik to $80, highlighting the company’s innovative approach to cybersecurity and significant ARR growth. BMO Capital Markets also raised their price target to $77, noting robust free cash flow and subscription ARR growth that exceeds consensus estimates. Piper Sandler adjusted their target to $87, emphasizing Rubrik’s transition to cloud services and potential for further growth.
However, KeyBanc Capital Markets reduced their price target to $82, despite acknowledging Rubrik’s strong fourth-quarter performance and promising fiscal year 2026 guidance. The firm’s Overweight rating remains, reflecting confidence in Rubrik’s potential within the backup and recovery market. These recent developments underscore the positive sentiment among analysts regarding Rubrik’s strategic positioning and growth trajectory.
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