Rubrik, Inc. (NYSE:RBRK) Given Average Rating of “Buy” by Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK) have been assigned an average rating of “Buy” from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Sixteen analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $44.65.

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a report on Tuesday, September 10th. CIBC upped their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Robert W. Baird assumed coverage on shares of Rubrik in a report on Monday, July 15th. They issued an “outperform” rating and a $42.00 target price for the company. Citigroup upped their price objective on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Guggenheim restated a “buy” rating and set a $48.00 price objective on shares of Rubrik in a report on Tuesday, June 25th.

Rubrik Price Performance

NYSE:RBRK opened at $38.87 on Thursday. The firm’s fifty day moving average price is $33.66. Rubrik has a 52 week low of $28.34 and a 52 week high of $40.36.

Rubrik (NYSE:RBRK) last released its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. Equities research analysts expect that Rubrik will post -7.95 EPS for the current fiscal year.

Insider Activity

In related news, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Kiran Kumar Choudary sold 51,924 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the transaction, the chief financial officer now directly owns 493,360 shares of the company’s stock, valued at approximately $15,496,437.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Insiders have sold 368,329 shares of company stock worth $12,241,803 in the last quarter.

Institutional Trading of Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Register Financial Advisors LLC acquired a new stake in shares of Rubrik in the 2nd quarter worth $227,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Rubrik during the 2nd quarter worth about $6,730,000. EFG Asset Management North America Corp. acquired a new stake in shares of Rubrik during the 2nd quarter worth about $925,000. ARK Investment Management LLC acquired a new stake in shares of Rubrik during the 2nd quarter worth about $6,043,000. Finally, Cisco Systems Inc. acquired a new stake in shares of Rubrik during the 2nd quarter worth about $5,613,000.

Rubrik Company Profile

Rubrik, Inc provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors.