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Shares of Rubrik, Inc. (NYSE:RBRK – Get Free Report) saw strong trading volume on Friday after Piper Sandler raised their price target on the stock from $83.00 to $87.00. Piper Sandler currently has an overweight rating on the stock. 2,422,237 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 1,891,406 shares.The stock last traded at $69.86 and had previously closed at $55.28.
RBRK has been the topic of several other research reports. Robert W. Baird decreased their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush raised their price objective on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp lifted their price target on Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. William Blair assumed coverage on Rubrik in a research report on Friday, February 7th. They issued a “market perform” rating for the company. Finally, Mizuho boosted their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $69.78.
Read Our Latest Stock Analysis on Rubrik
Insiders Place Their Bets
In related news, Director Yvonne Wassenaar sold 2,500 shares of the 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 sale, the director now owns 153 shares of the company’s stock, valued at $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the completion of the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at approximately $13,505,393.61. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 625,712 shares of company stock worth $41,583,311 over the last 90 days.
Institutional Trading of Rubrik
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Centaurus Financial Inc. acquired a new position in Rubrik during the 4th quarter valued at about $115,000. PharVision Advisers LLC purchased a new stake in shares of Rubrik during the fourth quarter worth about $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Rubrik by 168.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company’s stock valued at $43,610,000 after acquiring an additional 418,457 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Rubrik in the 4th quarter valued at approximately $85,331,000. Finally, Washington Harbour Partners LP acquired a new stake in Rubrik in the 4th quarter worth approximately $4,235,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.
Rubrik Price Performance
The business’s 50 day moving average is $68.20 and its 200 day moving average is $53.27.
Rubrik (NYSE:RBRK – Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same period in the prior year, the firm earned ($1.59) EPS. The company’s revenue for the quarter was up 47.5% on a year-over-year basis. Analysts anticipate that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.
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.
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