Brokerages Set Rubrik, Inc. (NYSE:RBRK) Price Target at $44.65

Rubrik, Inc. (NYSE:RBRK) has received a consensus recommendation of “Buy” from the eighteen analysts that are presently covering the stock, Marketbeat Ratings reports. Sixteen investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.65.

A number of brokerages have issued reports on RBRK. Piper Sandler initiated coverage on Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 target price on the stock. Baird R W upgraded shares of Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Robert W. Baird began coverage on shares of Rubrik in a report on Monday, July 15th. They issued an “outperform” rating and a $42.00 target price on the stock. CIBC boosted their price target on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Finally, FBN Securities began coverage on shares of Rubrik in a research report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective for the company.

Rubrik Trading Up 0.2 %

Shares of NYSE RBRK opened at $39.54 on Thursday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $41.33. The firm has a 50 day simple moving average of $33.98.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. Research analysts predict that Rubrik will post -7.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kiran Kumar Choudary sold 45,800 shares of Rubrik stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $39.22, for a total value of $1,796,276.00. Following the sale, the chief financial officer now directly owns 448,560 shares in the company, valued at $17,592,523.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kiran Kumar Choudary sold 45,800 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $39.22, for a total value of $1,796,276.00. Following the completion of the transaction, the chief financial officer now owns 448,560 shares in the company, valued at $17,592,523.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now directly owns 56,736 shares in the company, valued at approximately $1,857,536.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 368,329 shares of company stock valued at $12,241,803 in the last quarter.

Institutional Investors Weigh In On Rubrik

Large investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC bought a new stake in Rubrik during the second quarter worth $47,523,000. Clearbridge Investments LLC acquired a new position in shares of Rubrik during the 2nd quarter worth about $32,888,000. EPIQ Capital Group LLC bought a new stake in shares of Rubrik in the 2nd quarter valued at about $15,111,000. SG Americas Securities LLC acquired a new stake in Rubrik in the 3rd quarter valued at about $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Rubrik during the second quarter worth about $7,665,000.

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.