Rubrik (NYSE:RBRK) Sets New 12-Month High on Analyst Upgrade

Rubrik, Inc. (NYSE:RBRK) shares reached a new 52-week high during mid-day trading on Thursday after KeyCorp raised their price target on the stock from $48.00 to $57.00. KeyCorp currently has an overweight rating on the stock. Rubrik traded as high as $46.50 and last traded at $46.50, with a volume of 22703 shares trading hands. The stock had previously closed at $45.15.

Several other equities research analysts have also issued reports on the stock. Wedbush boosted their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays lifted their price objective on Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler assumed coverage on Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 target price for the company. Cantor Fitzgerald upgraded Rubrik to a “strong-buy” rating in a research note on Wednesday. Finally, Guggenheim boosted their target price on shares of Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $46.71.

Insider Transactions at Rubrik

In related news, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders have sold a total of 491,312 shares of company stock valued at $17,657,062 over the last three months.

Institutional Trading of Rubrik

A number of institutional investors have recently modified their holdings of RBRK. Dragoneer Investment Group LLC bought a new stake in shares of Rubrik in the second quarter worth $47,523,000. Champlain Investment Partners LLC acquired a new stake in Rubrik in the 3rd quarter valued at $44,418,000. Point72 Asset Management L.P. acquired a new position in shares of Rubrik during the 3rd quarter worth about $42,247,000. PointState Capital LP bought a new position in shares of Rubrik in the 3rd quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC increased its position in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after acquiring an additional 1,131,360 shares during the last quarter.

Rubrik Trading Up 4.2 %

The firm has a fifty day moving average of $38.27 and a 200-day moving average of $34.82.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. On average, analysts expect that Rubrik, Inc. will post -8.04 EPS for the current fiscal year.

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.