Robert W. Baird Cuts Rubrik (NYSE:RBRK) Price Target to $76.00

Rubrik (NYSE:RBRK) had its price objective reduced by Robert W. Baird from $83.00 to $76.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

RBRK has been the subject of a number of other research reports. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Wednesday. Mizuho lifted their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Oppenheimer assumed coverage on Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Piper Sandler raised their price objective on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets boosted their target price on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $69.78.

Rubrik Price Performance

Shares of NYSE RBRK opened at $70.54 on Wednesday. The stock has a 50 day moving average price of $68.20 and a 200 day moving average price of $53.27. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter in the prior year, the company posted ($1.59) EPS. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts predict that Rubrik will post -7.66 earnings per share for the current year.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $67.06, for a total transaction of $1,676,500.00. Following the sale, the executive now directly owns 321,560 shares in the company, valued at $21,563,813.60. This represents a 7.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the completion of the transaction, the chief financial officer now owns 343,774 shares of the company’s stock, valued at $23,386,945.22. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 625,712 shares of company stock worth $41,583,311 in the last quarter.

Institutional Trading of Rubrik

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Rubrik during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC increased its stake in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. Nemes Rush Group LLC acquired a new position in shares of Rubrik during the 4th quarter worth $39,000. Point72 Hong Kong Ltd acquired a new position in Rubrik during the fourth quarter worth about $47,000. Finally, Quarry LP bought a new position in shares of Rubrik in the fourth quarter worth about $48,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.