THOMPSON JOHN WENDELL sold $211K of RBRK (indirect holdings)

Rubrik CEO Bipul Sinha's SPV expects a $42.1M payment on September 28, 2026, from a prepaid variable forward contract. The contract involves up to 500,000 Class A shares, with settlement on September 26, 2028, based on share price.

Rubrik officer Bipul Sinha plans to sell 500,000 Class A shares, valued at $56.9M, through a prepaid forward contract with Goldman Sachs. The entity may choose cash settlement under certain conditions. Rubrik has 167.4M shares outstanding.

Rubrik (NYSE: RBRK) launched Rubrik Code Guardian, using Anthropic's Claude Mythos 5 to test and prioritize cyber risks in customers' code. The service analyzes air-gapped code copies, validates vulnerabilities, and accelerates remediation. According to Anthropic, this helps defenders find attack paths before attackers. Rubrik aims to scale vulnerability detection faster than traditional tools. The service is now accepting select design partners for a private preview.

Palo Alto Networks (PANW) reported Q4 revenue of $3.4B, up 34% YoY, with strong AI-driven security demand. Stock up 90% over 52 weeks. Wedbush sets $400 target. Rubrik (RBRK) reported Q2 revenue of $427.3M, up 37.9% YoY, with AI expansion. Stock up 131% from April low. Both stocks rally on AI cybersecurity growth.

Cybersecurity stocks surged, with CrowdStrike up 15% to $237.57, Zscaler up 15.2%, and others rising. The rally followed an essay by Anthropic's CEO warning of AI threats, which investors interpreted as a boost for cybersecurity demand. The move was driven by sentiment, with no changes in company guidance.

Wedbush initiated coverage of cybersecurity firms, rating Palo Alto Networks (PANW) and Rubrik (RBRK) Outperform, along with CrowdStrike (CRWD) and Datadog (DDOG). Analyst Steven Wahrhaftig noted a shift toward broader security platforms, driven by AI and other industry changes. Tenable (TENB) was rated Underperform, while several others received Neutral ratings.