Rubrik (NYSE:RBRK) Price Target Raised to $82.00

Rubrik (NYSE:RBRK) had its price objective hoisted by Mizuho from $75.00 to $82.00 in a research report released on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Guggenheim increased their price target on Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. FBN Securities assumed coverage on shares of Rubrik in a research report on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. BMO Capital Markets increased their price objective on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Wedbush raised their price objective 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. 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 MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $64.11.

Rubrik Stock Performance

NYSE RBRK opened at $66.98 on Tuesday. The company has a 50-day moving average price of $49.37 and a two-hundred day moving average price of $38.56. Rubrik has a 52 week low of $28.34 and a 52 week high of $75.79.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 3,973 shares of Rubrik stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the transaction, the chief financial officer now owns 345,374 shares in the company, valued at $24,984,355.16. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the sale, the executive now owns 462,545 shares of the company’s stock, valued at $14,486,909.40. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 493,237 shares of company stock worth $21,391,568.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. acquired a new stake in shares of Rubrik in the third quarter worth $25,000. KBC Group NV bought a new stake in Rubrik in the 3rd quarter valued at $72,000. Quent Capital LLC acquired a new stake in Rubrik in the 3rd quarter worth $192,000. Mount Yale Investment Advisors LLC bought a new position in shares of Rubrik during the 3rd quarter worth about $208,000. Finally, Sei Investments Co. acquired a new position in shares of Rubrik during the second quarter valued at about $235,000. 49.54% of the stock is owned by institutional investors.

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.