Rubrik (NYSE:RBRK) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Rubrik (NYSE:RBRK) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

RBRK has been the topic of several other research reports. Oppenheimer initiated coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Robert W. Baird lifted their price target on Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler assumed coverage on Rubrik in a research note on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Finally, CIBC lifted their target price on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.71.

Rubrik Price Performance

Rubrik stock opened at $51.19 on Wednesday. The firm has a 50 day moving average price of $38.27 and a 200-day moving average price of $34.82. Rubrik has a twelve month low of $28.34 and a twelve month high of $51.58.

Rubrik (NYSE:RBRK) last released 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 analyst estimates of $195.58 million. On average, research analysts predict that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Activity at Rubrik

In other news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now owns 56,736 shares of the company’s stock, valued at $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,312 shares of company stock valued at $17,657,062 in the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new position in Rubrik in the second quarter worth about $227,000. Zweig DiMenna Associates LLC purchased a new position in shares of Rubrik in the second quarter worth approximately $6,730,000. EFG Asset Management North America Corp. bought a new stake in Rubrik during the second quarter valued at approximately $925,000. ARK Investment Management LLC purchased a new stake in Rubrik during the second quarter valued at approximately $6,043,000. Finally, Cisco Systems Inc. bought a new position in Rubrik in the second quarter worth approximately $5,613,000.

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.