Barclays Boosts Rubrik (NYSE:RBRK) Price Target to $51.00

Rubrik (NYSE:RBRK) had its target price hoisted by stock analysts at Barclays from $42.00 to $51.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 3.59% from the company’s current price.

A number of other equities analysts also recently commented on RBRK. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price objective on shares of Rubrik in a research report on Tuesday, September 10th. 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 report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Guggenheim raised their price target on Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citigroup upped their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $46.18.

Rubrik Trading Up 9.0 %

Shares of RBRK opened at $49.23 on Wednesday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $49.73. The firm has a 50-day simple moving average of $38.27 and a 200-day simple moving average of $34.82.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. Equities research analysts predict that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the sale, the insider now directly owns 56,736 shares in the company, valued at $1,857,536.64. This represents a 63.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian K. Mccarthy sold 104,672 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares in the company, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 454,512 shares of company stock valued at $15,813,462 over the last quarter.

Hedge Funds Weigh In On Rubrik

Several institutional investors and hedge funds have recently modified their holdings of RBRK. Brown Brothers Harriman & Co. purchased a new stake in Rubrik in the 3rd quarter valued at about $25,000. KBC Group NV acquired a new stake in shares of Rubrik in the third quarter worth approximately $72,000. Quent Capital LLC purchased a new stake in Rubrik in the third quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC acquired a new position in Rubrik during the third quarter worth approximately $208,000. Finally, Barclays PLC raised its stake in Rubrik by 140.6% during the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares during the period.

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.