Rubrik (NYSE:RBRK) Trading 4.6% Higher

Shares of Rubrik, Inc. (NYSE:RBRK) rose 4.6% on Thursday . The company traded as high as $32.89 and last traded at $32.83. Approximately 1,500,805 shares changed hands during trading, an increase of 4% from the average daily volume of 1,442,572 shares. The stock had previously closed at $31.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RBRK shares. Barclays raised their target price on shares of Rubrik from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. FBN Securities began coverage on Rubrik in a research report on Monday. They set an “outperform” rating and a $40.00 target price for the company. Robert W. Baird initiated coverage on Rubrik in a report on Monday, July 15th. They issued an “outperform” rating and a $42.00 price target on the stock. BMO Capital Markets dropped their price objective on Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Finally, Piper Sandler assumed coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price on the stock. Sixteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $44.41.

Rubrik Stock Performance

The firm’s fifty day moving average price is $33.07.

Insider Buying and Selling

In other Rubrik news, 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 sale, the chief financial officer now owns 493,360 shares of the company’s stock, valued at approximately $15,496,437.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 493,360 shares of the company’s stock, valued at $15,496,437.60. The disclosure for this sale can be found here. Insiders sold 272,529 shares of company stock valued at $8,664,277 over the last 90 days.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik during the second quarter valued at about $47,523,000. Clearbridge Investments LLC acquired a new position in Rubrik during the 2nd quarter valued at approximately $32,888,000. EPIQ Capital Group LLC purchased a new position in shares of Rubrik in the second quarter worth $15,111,000. SG Americas Securities LLC acquired a new stake in shares of Rubrik during the third quarter worth $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rubrik during the second quarter valued at $7,665,000.

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.