Rubrik (NYSE:RBRK) Now Covered by Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Rubrik (NYSE:RBRK) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $77.00 target price on the stock.

Several other equities analysts have also commented on RBRK. CIBC upped 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. Wedbush upped their target price on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Truist Financial upped their price objective on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Oppenheimer started coverage on Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Rubrik has an average rating of “Buy” and an average price target of $63.50.

Rubrik Price Performance

NYSE:RBRK opened at $72.95 on Tuesday. Rubrik has a 12 month low of $28.34 and a 12 month high of $75.79. The business’s 50-day moving average is $47.40 and its two-hundred day moving average is $37.86.

Insiders Place Their Bets

In other news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. The trade was a 63.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $69.70, for a total transaction of $125,460.00. Following the sale, the chief financial officer now directly owns 342,160 shares of the company’s stock, valued at approximately $23,848,552. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 560,779 shares of company stock valued at $22,317,557 over the last 90 days.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the stock. Garden State Investment Advisory Services LLC acquired a new position in Rubrik during the 3rd quarter valued at approximately $394,000. Barclays PLC lifted its stake in Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after buying an additional 7,029 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rubrik by 133.3% during the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock valued at $18,290,000 after acquiring an additional 324,951 shares during the period. XTX Topco Ltd bought a new position in shares of Rubrik during the third quarter worth about $571,000. Finally, State Street Corp lifted its position in Rubrik by 368.9% in the 3rd quarter. State Street Corp now owns 421,096 shares of the company’s stock valued at $13,538,000 after purchasing an additional 331,296 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.