Rubrik (NYSE:RBRK) Now Covered by Analysts at FBN Securities

FBN Securities initiated coverage on shares of Rubrik (NYSE:RBRK) in a report released on Monday morning, Benzinga reports. The firm issued an outperform rating and a $40.00 target price on the stock.

Several other research firms also recently weighed in on RBRK. Guggenheim restated a buy rating and set a $48.00 target price on shares of Rubrik in a report on Tuesday, June 25th. Cantor Fitzgerald restated an overweight rating and set a $50.00 target price on shares of Rubrik in a report on Tuesday, September 10th. Baird R W upgraded shares of Rubrik to a strong-buy rating in a report on Monday, July 15th. Citigroup raised their target price on shares of Rubrik from $47.00 to $48.00 and gave the company a buy rating in a report on Wednesday, September 11th. Finally, CIBC raised their target price on shares of Rubrik from $50.00 to $52.00 and gave the company an outperformer rating in a report on Tuesday, September 10th. Sixteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $44.41.

Rubrik Stock Up 0.6 %

NYSE:RBRK opened at $32.16 on Monday. The company’s 50-day simple moving average is $33.24. Rubrik has a twelve month low of $28.34 and a twelve month high of $40.00.

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 104,672 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at $14,486,909.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Brian K. Mccarthy sold 104,672 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at $14,486,909.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the sale, the insider now directly owns 56,736 shares in the company, valued at $1,857,536.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,529 shares of company stock valued at $8,664,277.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RBRK. Register Financial Advisors LLC acquired a new position in Rubrik during the second quarter valued at approximately $227,000. Zweig DiMenna Associates LLC acquired a new position in Rubrik during the second quarter valued at approximately $6,730,000. EFG Asset Management North America Corp. acquired a new position in Rubrik during the second quarter valued at approximately $925,000. ARK Investment Management LLC acquired a new position in Rubrik during the second quarter valued at approximately $6,043,000. Finally, Cisco Systems Inc. acquired a new position in Rubrik during the second quarter valued at approximately $5,613,000.

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.