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Lightspeed Management Company, L.L.C., a significant shareholder in Rubrik, Inc. (NASDAQ:RBRK), has sold a portion of its holdings in the company. According to a recent filing, the firm sold 13,213 shares of Rubrik’s Class A Common Stock on April 15, 2025. The shares were sold at an average price of $62.98, bringing the total transaction value to approximately $832,154. The sale comes amid Rubrik’s strong market performance, with the stock delivering a 66.5% return over the past year and a remarkable 56% gain in the last six months.
Following this transaction, the shares owned by Lightspeed Management Company have been reduced, with no shares held directly post-sale. The transaction details reveal that the shares were sold in multiple trades, with prices ranging from $62.83 to $63.18. According to InvestingPro data, Rubrik commands a market capitalization of $11.8 billion, with analysts setting price targets between $72 and $90.
The filing also includes information regarding the indirect holdings of Barry Eggers and Peter Nieh, who are managing members of Lightspeed Management Company and share voting and dispositive power over the shares. Despite the sale, Eggers and Nieh maintain substantial indirect holdings through various investment partnerships. Based on InvestingPro’s Fair Value analysis, the stock currently appears overvalued, though 14 analysts have recently revised their earnings expectations upward for the upcoming period.
In other recent news, Rubrik has announced significant developments aimed at enhancing cyber resilience for Google (NASDAQ:GOOGL) Cloud customers. The company is working with Mandiant to create a cloud-based isolated recovery environment, focusing on safeguarding critical data backups against cyber threats. Rubrik is also introducing new threat-analytics capabilities for Google Cloud, which include Anomaly Detection and Threat Monitoring to proactively detect cyber threats. Additionally, Rubrik has launched Rubrik Annapurna, an initiative to improve the security and governance of AI data on Google Cloud, emphasizing Zero Trust security principles.
In terms of financial outlook, Guggenheim analysts have increased their price target for Rubrik to $80, maintaining a Buy rating, citing the company’s innovative approach to cybersecurity. BMO Capital Markets also raised Rubrik’s stock target to $77, keeping an Outperform rating, following Rubrik’s strong operational performance and promising financial forecasts. Furthermore, Truist Securities reaffirmed a $90 price target, highlighting Rubrik’s impressive fourth-quarter results and its unique position in the market as a provider of both cyber resiliency and data security posture management solutions. These recent developments underscore Rubrik’s strategic focus on innovation and growth in the cybersecurity sector.
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