Rubrik (NYSE:RBRK) Trading 4.1% Higher – Here’s Why

Rubrik, Inc. (NYSE:RBRK)’s stock price traded up 4.1% on Monday . The company traded as high as $71.30 and last traded at $71.13. 2,187,910 shares were traded during trading, an increase of 23% from the average session volume of 1,785,176 shares. The stock had previously closed at $68.35.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Rosenblatt Securities began coverage on shares of Rubrik in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Robert W. Baird boosted their price target on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Guggenheim raised their price objective on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Cantor Fitzgerald upped their target price on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $64.11.

Rubrik Price Performance

The firm has a 50 day moving average of $52.77 and a 200-day moving average of $40.11.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 45,800 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $39.22, for a total value of $1,796,276.00. Following the sale, the chief financial officer now directly owns 448,560 shares of the company’s stock, valued at $17,592,523.20. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Brian K. Mccarthy sold 28,485 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $2,060,604.90. Following the transaction, the executive now directly owns 346,560 shares of the company’s stock, valued at approximately $25,070,150.40. The trade was a 7.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 336,641 shares of company stock worth $16,482,308.

Institutional Investors Weigh In On Rubrik

Hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new stake in Rubrik during the 3rd quarter worth $25,000. KBC Group NV acquired a new stake in shares of Rubrik during the third quarter valued at about $72,000. Quent Capital LLC bought a new stake in shares of Rubrik during the third quarter worth about $192,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik in the third quarter valued at approximately $208,000. Finally, Sei Investments Co. bought a new position in Rubrik in the 2nd quarter valued at approximately $235,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Company Profile

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.