Rubrik (NYSE:RBRK) Price Target Raised to $85.00 at Citigroup

Rubrik (NYSE:RBRK) had its target price boosted by Citigroup from $75.00 to $85.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 25.60% from the stock’s previous close.

Several other brokerages have also issued reports on RBRK. Wells Fargo & Company lifted their price target on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Rosenblatt Securities started coverage on shares of Rubrik in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Wedbush lifted their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. FBN Securities started coverage on shares of Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Guggenheim lifted their price target on shares of Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $64.67.

Rubrik Trading Down 0.8 %

Shares of RBRK stock opened at $67.68 on Friday. Rubrik has a 1 year low of $28.34 and a 1 year high of $75.79. The firm’s fifty day moving average price is $60.17 and its two-hundred day moving average price is $43.76.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 3,973 shares of Rubrik stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the completion of the transaction, the chief financial officer now owns 345,374 shares in the company, valued at $24,984,355.16. This trade represents a 1.14 % 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. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the transaction, the director now owns 153 shares of the company’s stock, valued at $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 626,055 shares of company stock worth $38,276,205 over the last quarter.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new position in Rubrik in the 3rd quarter worth approximately $25,000. KBC Group NV purchased a new stake in shares of Rubrik in the 3rd quarter valued at $72,000. Quent Capital LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at $192,000. Shikiar Asset Management Inc. purchased a new stake in shares of Rubrik in the 4th quarter valued at $203,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.