Rubrik (NYSE:RBRK) Price Target Raised to $75.00

Rubrik (NYSE:RBRK) had its target price boosted by Citigroup from $48.00 to $75.00 in a research report released on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

RBRK has been the topic of several other reports. Oppenheimer assumed coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Barclays boosted their target price on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday. Guggenheim boosted their target price on shares of Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald lifted their price target on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday. One investment 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 company’s stock. According to data from MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $60.59.

Rubrik Trading Up 20.4 %

NYSE:RBRK opened at $64.63 on Friday. The firm’s fifty day moving average price is $42.65 and its 200 day moving average price is $36.20. Rubrik has a 1-year low of $28.34 and a 1-year high of $72.66.

Rubrik (NYSE:RBRK) last posted 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 analysts’ expectations of $195.58 million. Research analysts expect that Rubrik will post -8.04 EPS for the current year.

Insider Activity

In other 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 completion of the transaction, the insider now owns 56,736 shares of the company’s stock, valued at $1,857,536.64. This represents a 63.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $65.78, for a total transaction of $1,973,400.00. Following the transaction, the chief financial officer now directly owns 342,960 shares of the company’s stock, valued at approximately $22,559,908.80. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 574,912 shares of company stock valued at $22,673,114 in the last 90 days.

Institutional Trading of Rubrik

Institutional investors have recently modified their holdings of the company. Diversified Trust Co purchased a new stake in shares of Rubrik during the 3rd quarter worth about $432,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Rubrik during the 2nd quarter worth about $2,606,000. Bank of Montreal Can purchased a new stake in shares of Rubrik during the 2nd quarter worth about $427,000. Penserra Capital Management LLC purchased a new stake in shares of Rubrik during the 3rd quarter worth about $35,359,000. Finally, Natixis Advisors LLC grew its holdings in shares of Rubrik by 302.5% during the 3rd quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after purchasing an additional 40,036 shares during the period.

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.