PALO ALTO, CA—Choudary Kiran Kumar, the Chief Financial Officer of Rubrik, Inc. (NASDAQ:RBRK), recently sold shares worth $125,460, according to a recent SEC filing. The transaction, which took place on December 11, involved the sale of 1,800 shares of Class A Common Stock at a price of $69.70 per share. The sale comes as Rubrik, now valued at $12.8 billion, has seen its stock surge 14.8% in the past week, trading near its 52-week high of $74.99.
This sale was conducted as part of a pre-established trading plan under Rule 10b5-1, which was adopted on July 15, 2024. Following this transaction, Kumar holds 342,160 shares of Class A Common Stock in direct ownership.
In addition to the sale, Kumar also exercised stock options, acquiring 1,000 shares of Class B Common Stock. These shares were converted into Class A Common Stock as per the company's amended and restated certificate of incorporation.
Rubrik, a company specializing in prepackaged software services, continues to have its headquarters in Palo Alto, California. For more detailed analysis and additional insights about Rubrik's performance, investors can access comprehensive research reports and financial metrics through InvestingPro.
In other recent news, data management company Rubrik Inc has been drawing notable attention following strong earnings results and raised revenue guidance for the fiscal year 2025. The company reported a 24.7% revenue growth in the recent quarter, surpassing estimates and prompting upward revisions of earnings estimates by several analysts. BMO Capital Markets, KeyBanc Capital Markets, and Piper Sandler have shown confidence in Rubrik's performance by significantly raising their price targets for the company's stock.
Rubrik's third-quarter results included an adjusted loss per share of 21 cents, better than the estimated loss of 40 cents per share, and total revenue of $236.2 million, surpassing the $217.6 million estimate. This strong performance has been attributed to growing demand for data security, with Rubrik standing out as the sole provider of both cyber resilience and data security management.
Looking forward to 2025, Rubrik expects revenue between $860 million and $862 million, an increase from the previous $830 million to $838 million range. The company also forecasts 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 are recent developments that investors should note.
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