Rubrik (NYSE:RBRK) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Rubrik (NYSE:RBRK) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $72.00 price objective on the stock, up from their previous price objective of $42.00.

Several other research analysts have also recently commented on the stock. Truist Financial upped their target price on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush upped their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. KeyCorp upped their target price on shares of Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday. Finally, Oppenheimer initiated coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $60.59.

Rubrik Stock Up 20.4 %

Shares of NYSE:RBRK opened at $64.63 on Friday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $72.66. The firm has a 50-day simple moving average of $42.65 and a 200 day simple moving average of $36.20.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data 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 company had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. As a group, analysts expect that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. This represents a 63.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,630,932.84. Following the transaction, the chief financial officer now owns 493,360 shares in the company, valued at approximately $15,496,437.60. This trade represents a 9.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 574,912 shares of company stock worth $22,673,114.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RBRK. Brown Brothers Harriman & Co. acquired a new position in Rubrik in the 3rd quarter valued at $25,000. KBC Group NV acquired a new position in Rubrik in the 3rd quarter valued at $72,000. Quent Capital LLC bought a new stake in Rubrik in the 3rd quarter valued at $192,000. Mount Yale Investment Advisors LLC bought a new stake in Rubrik in the 3rd quarter valued at $208,000. Finally, Sei Investments Co. bought a new stake in Rubrik in the 2nd quarter valued at $235,000.

About Rubrik

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.