Rubrik (NYSE:RBRK) Hits New 1-Year High on Analyst Upgrade

Rubrik, Inc. (NYSE:RBRK) shares hit a new 52-week high during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $47.00 to $68.00. Mizuho currently has an outperform rating on the stock. Rubrik traded as high as $73.14 and last traded at $73.11, with a volume of 896789 shares trading hands. The stock had previously closed at $69.79.

A number of other analysts have also weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $72.00 target price (up previously from $42.00) on shares of Rubrik in a research note on Friday, December 6th. Wells Fargo & Company raised their price target on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Citigroup boosted their price target on shares of Rubrik from $48.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Guggenheim upped their price objective on Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial boosted their target price on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $61.88.

Insider Activity at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the completion of the transaction, the chief financial officer now owns 493,360 shares of the company’s stock, valued at $15,496,437.60. This represents a 9.52 % 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 three months.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik during the third quarter worth about $25,000. KBC Group NV acquired a new stake in shares of Rubrik during the third quarter worth approximately $72,000. Quent Capital LLC bought a new position in Rubrik during the 3rd quarter valued at $192,000. Mount Yale Investment Advisors LLC acquired a new position in Rubrik during the 3rd quarter worth $208,000. Finally, Sei Investments Co. acquired a new stake in shares of Rubrik in the 2nd quarter valued at about $235,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Stock Down 0.8 %

The stock has a 50 day moving average of $44.16 and a 200 day moving average of $36.71.

Rubrik (NYSE:RBRK) last posted its earnings results 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 business had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. Analysts anticipate that Rubrik, Inc. will post -8.04 EPS for the current fiscal year.

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.