Rubrik (NYSE:RBRK) Now Covered by Analysts at William Blair

William Blair started coverage on shares of Rubrik (NYSE:RBRK) in a research report released on Friday morning, Marketbeat reports. The brokerage issued a market perform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Rosenblatt Securities assumed coverage on shares of Rubrik in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. Oppenheimer initiated coverage on shares of Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Barclays boosted their price objective on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial boosted their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, BMO Capital Markets lifted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.67.

Rubrik Price Performance

Shares of Rubrik stock opened at $74.52 on Friday. Rubrik has a 52-week low of $28.34 and a 52-week high of $79.05. The firm has a 50-day moving average of $67.78 and a 200-day moving average of $47.95.

Insider Activity

In other news, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now owns 153 shares of the company’s stock, valued at approximately $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $45.00, for a total transaction of $81,000.00. Following the completion of the transaction, the chief financial officer now owns 384,560 shares in the company, valued at $17,305,200. This represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 656,434 shares of company stock valued at $42,599,751.

Institutional Investors Weigh In On Rubrik

Several institutional investors have recently added to or reduced their stakes in RBRK. HighTower Advisors LLC bought a new position in shares of Rubrik during the fourth quarter valued at about $1,495,000. Endowment Wealth Management Inc. purchased a new position in Rubrik during the 4th quarter valued at about $655,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Rubrik by 82.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,359 shares of the company’s stock valued at $1,200,000 after purchasing an additional 8,300 shares during the last quarter. Amundi purchased a new stake in Rubrik in the 4th quarter worth approximately $2,329,000. Finally, Haven Private LLC bought a new stake in shares of Rubrik in the 4th quarter worth approximately $480,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.