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Nithrakashyap Arvind (NSE:ARVN), Chief Technology Officer at Rubrik, Inc. (NASDAQ:RBRK), a company currently valued at $11.4 billion, executed a series of stock transactions recently, as revealed in the latest SEC Form 4 filing. According to InvestingPro data, the stock has surged over 104% in the past six months, though analysis suggests it may be overvalued at current levels. On March 3, 2025, Arvind sold a total of 32,485 shares of Class A Common Stock, generating approximately $2 million. These shares were sold at prices ranging from $61.00 to $67.53 per share.
The following day, March 4, Arvind continued to offload shares, selling an additional 32,171 shares. This transaction brought in around $1.9 million, with shares sold at prices between $58.80 and $62.57.
On March 5, Arvind sold another batch of 32,484 shares, earning approximately $2.1 million. The shares were sold at prices ranging from $59.80 to $63.00.
Overall, these transactions resulted in a total sale of $6,038,751. The sales were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on September 21, 2024. This plan allows company insiders to set up a predetermined schedule for buying or selling stock, helping to avoid potential accusations of insider trading. Despite recent insider selling, InvestingPro data shows strong revenue growth of 33% in the last twelve months, with analysts anticipating continued sales growth this year.
In other recent news, Rubrik Inc. has made significant announcements and adjustments that are capturing investor attention. The company reported a strong performance in the third quarter, surpassing earnings expectations with an adjusted loss per share of 21 cents, better than the anticipated 40 cents. Revenue reached $236.2 million, exceeding the $217.6 million estimate, driven by subscription revenue of $221.5 million against a forecast of $205.2 million. Following this, Rubrik raised its full-year revenue guidance, projecting revenue between $860 million and $862 million for 2025, up from a previous range of $830 million to $838 million.
Analysts have responded positively to these developments, with BMO Capital Markets significantly increasing its price target for Rubrik from $38 to $72, citing strong demand and impressive quarterly results. Mizuho (NYSE:MFG) Securities also raised its price target to $82, highlighting Rubrik’s strengths in cyber resiliency and data management. Piper Sandler increased its price target to $83, maintaining an Overweight rating due to Rubrik’s updated financial outlook and subscription revenue dynamics.
Additionally, Truist Securities and KeyBanc both raised their price targets to $75, reflecting confidence in Rubrik’s market position and future growth potential. Despite these positive updates, the company did experience a 3.4% decline in shares following a significant block trade, which involved 1.16 million shares. Overall, Rubrik’s recent performance and revised projections have led to a wave of analyst upgrades, underscoring the company’s robust financial health and promising trajectory in the data security sector.
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