Rubrik (NYSE:RBRK) Upgraded by Rosenblatt Securities to Buy Rating

Rosenblatt Securities upgraded shares of Rubrik (NYSE:RBRK) from a neutral rating to a buy rating in a report published on Wednesday, Marketbeat.com reports. Rosenblatt Securities currently has $77.00 price target on the stock.

Several other brokerages have also recently weighed in on RBRK. Barclays upped their price target on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Citigroup upped their target price on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. BMO Capital Markets lifted their price target on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. KeyCorp upped their price objective on shares of Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Guggenheim reiterated a “buy” rating and set a $76.00 target price on shares of Rubrik in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $69.78.

Rubrik Stock Up 27.6 %

NYSE:RBRK opened at $70.54 on Wednesday. The company has a 50-day moving average price of $68.20 and a 200-day moving average price of $53.27. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same period in the previous year, the business earned ($1.59) EPS. Rubrik’s revenue for the quarter was up 47.5% compared to the same quarter last year. Research analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 28,485 shares of the 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 owns 346,560 shares of the company’s stock, valued at approximately $25,070,150.40. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total transaction of $193,275.00. Following the sale, the director now directly owns 153 shares of the company’s stock, valued at $11,828.43. The trade was a 94.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,712 shares of company stock worth $41,583,311.

Hedge Funds Weigh In On Rubrik

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new position in Rubrik in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC grew its position in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Nemes Rush Group LLC purchased a new stake in shares of Rubrik in the 4th quarter worth $39,000. Point72 Hong Kong Ltd bought a new position in Rubrik in the 4th quarter worth $47,000. Finally, Quarry LP purchased a new position in Rubrik during the fourth quarter valued at $48,000. Hedge funds and other institutional investors 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.