Rubrik (NYSE:RBRK) Price Target Raised to $70.00

Rubrik (NYSE:RBRK) had its price target raised by Cantor Fitzgerald from $58.00 to $70.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

RBRK has been the subject of several other reports. Barclays raised their price objective on Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Piper Sandler reiterated an “overweight” rating and set a $72.00 target price (up from $42.00) on shares of Rubrik in a report on Friday. Wedbush raised their price objective on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. FBN Securities initiated coverage on Rubrik in a report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, KeyCorp raised their target price on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $60.59.

Rubrik Stock Up 20.4 %

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

Rubrik (NYSE:RBRK) last announced 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 business had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. Analysts predict that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Activity at Rubrik

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction dated 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 directly owns 56,736 shares in the company, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.32, for a total value of $3,278,327.04. Following the transaction, the executive now owns 462,545 shares of the company’s stock, valued at $14,486,909.40. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 574,912 shares of company stock valued at $22,673,114.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its stake in Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after acquiring an additional 7,029 shares during the period. Geode Capital Management LLC lifted its holdings in Rubrik by 133.3% during the 3rd quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock worth $18,290,000 after buying an additional 324,951 shares during the period. XTX Topco Ltd acquired a new position in shares of Rubrik in the 3rd quarter worth approximately $571,000. State Street Corp lifted its holdings in Rubrik by 368.9% in the third quarter. State Street Corp now owns 421,096 shares of the company’s stock valued at $13,538,000 after buying an additional 331,296 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Rubrik by 407.7% in the 3rd quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock valued at $2,204,000 after acquiring an additional 55,062 shares in the last quarter.

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.