Rubrik (NYSE:RBRK) Sets New 1-Year High – Should You Buy?

Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.95 and last traded at $45.95, with a volume of 1440 shares changing hands. The stock had previously closed at $44.81.

Analyst Ratings Changes

A number of brokerages recently issued reports on RBRK. Citigroup boosted their price objective on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. CIBC boosted their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Piper Sandler assumed coverage on shares of Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price target on shares of Rubrik in a report on Tuesday, September 10th. Finally, Wedbush upped their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and an average price target of $45.00.

Rubrik Stock Performance

The business’s 50 day simple moving average is $36.93 and its 200-day simple moving average is $34.41.

Rubrik (NYSE:RBRK) last posted its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. Equities analysts predict that Rubrik, Inc. will post -7.94 EPS for the current fiscal year.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the completion of the transaction, the chief financial officer now owns 493,360 shares in the company, valued at approximately $15,496,437.60. This trade represents a 9.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $41.39, for a total transaction of $1,034,750.00. Following the transaction, the executive now owns 387,545 shares of the company’s stock, valued at approximately $16,040,487.55. The trade was a 6.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 444,512 shares of company stock worth $15,368,662 in the last quarter.

Institutional Trading of Rubrik

Large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new stake in Rubrik in the 3rd quarter valued at $25,000. KBC Group NV acquired 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 valued at $192,000. Mount Yale Investment Advisors LLC acquired a new stake in Rubrik in the 3rd quarter valued at $208,000. Finally, Register Financial Advisors LLC acquired a new stake in Rubrik in the 2nd quarter valued at $227,000.

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.