Rubrik (NYSE:RBRK) Given New $76.00 Price Target at Robert W. Baird

Rubrik (NYSE:RBRK) had its price objective lowered by Robert W. Baird from $83.00 to $76.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

RBRK has been the subject of a number of other research reports. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Wednesday. Cantor Fitzgerald raised their price objective on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Guggenheim restated a “buy” rating and set a $76.00 price objective on shares of Rubrik in a research note on Wednesday, February 26th. BMO Capital Markets raised their price objective on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Piper Sandler increased their target price on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $66.72.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $57.17 on Wednesday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The business has a 50 day moving average price of $68.42 and a two-hundred day moving average price of $53.26.

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 28,485 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $2,060,604.90. Following the sale, the executive now directly owns 346,560 shares in the company, valued at $25,070,150.40. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,712 shares of company stock valued at $41,583,311.

Institutional Trading of Rubrik

Several large investors have recently added to or reduced their stakes in RBRK. Norges Bank acquired a new stake in Rubrik in the 4th quarter valued at approximately $277,395,000. Vanguard Group Inc. increased its position in shares of Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after purchasing an additional 3,372,323 shares during the period. FMR LLC increased its position in shares of Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after purchasing an additional 2,065,444 shares during the period. Champlain Investment Partners LLC acquired a new position in shares of Rubrik during the 3rd quarter valued at $44,418,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Rubrik during the 3rd quarter valued at $42,247,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.