Rubrik (NYSE:RBRK) Price Target Raised to $87.00

Rubrik (NYSE:RBRK) had its target price raised by KeyCorp from $75.00 to $87.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

RBRK has been the topic of several other reports. Wells Fargo & Company boosted their price objective on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Piper Sandler boosted their price objective on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Robert W. Baird boosted their price objective on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Barclays boosted their price objective on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Oppenheimer started coverage on Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik presently has an average rating of “Moderate Buy” and an average price target of $65.33.

Rubrik Stock Up 1.6 %

Shares of RBRK stock opened at $78.81 on Tuesday. The stock’s 50-day moving average price is $69.78 and its 200-day moving average price is $48.93. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00.

Insider Activity

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $50.38, for a total value of $1,259,500.00. Following the transaction, the executive now owns 362,545 shares in the company, valued at $18,265,017.10. The trade was a 6.45 % 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, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $45.00, for a total value 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 trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 646,434 shares of company stock worth $42,154,951.

Hedge Funds Weigh In On Rubrik

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. Renaissance Capital LLC grew its stake in Rubrik by 190.1% in the third quarter. Renaissance Capital LLC now owns 60,061 shares of the company’s stock valued at $1,931,000 after purchasing an additional 39,354 shares during the last quarter. Legacy Capital Group California Inc. purchased a new position in Rubrik in the third quarter valued at about $2,419,000. Mount Yale Investment Advisors LLC purchased a new position in Rubrik in the third quarter valued at about $208,000. Diversify Wealth Management LLC purchased a new position in Rubrik in the third quarter valued at about $1,808,000. Finally, Stephens Investment Management Group LLC grew its stake in Rubrik by 3.5% in the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company’s stock valued at $8,499,000 after purchasing an additional 8,903 shares during the last quarter. 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.