Rubrik, Inc. (NYSE:RBRK) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK) have received a consensus recommendation of “Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Fifteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.69.

A number of brokerages have weighed in on RBRK. Piper Sandler began coverage on Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 price target for the company. CIBC increased their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. KeyCorp raised their target price on Rubrik from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. BMO Capital Markets reduced their target price on Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company reduced their target price on Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th.

Insider Activity at Rubrik

In other news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dragoneer Investment Group LLC bought a new stake in shares of Rubrik during the 2nd quarter worth $47,523,000. Clearbridge Investments LLC bought a new stake in shares of Rubrik during the 2nd quarter worth $32,888,000. EPIQ Capital Group LLC bought a new stake in shares of Rubrik during the 2nd quarter worth $15,111,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Rubrik during the 2nd quarter worth $7,665,000. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Rubrik during the 2nd quarter worth $6,730,000.

Rubrik Price Performance

NYSE RBRK opened at $33.29 on Friday. The firm has a fifty day moving average of $33.47. Rubrik has a twelve month low of $28.34 and a twelve month high of $40.00.

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.