Rubrik (NYSE:RBRK) Reaches New 52-Week High – What’s Next?

Rubrik, Inc. (NYSE:RBRK) reached a new 52-week high on Wednesday . The stock traded as high as $45.95 and last traded at $45.95, with a volume of 1440 shares trading hands. The stock had previously closed at $44.81.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RBRK shares. CIBC lifted their target price on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Citigroup upped their price objective on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 price objective on shares of Rubrik in a research report on Tuesday, September 10th. FBN Securities began coverage on shares of Rubrik in a research report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Piper Sandler started coverage on shares of Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price on the stock. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $45.00.

Rubrik Stock Down 0.2 %

The business’s 50 day moving average is $36.93 and its 200-day moving average is $34.41.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. Equities analysts anticipate that Rubrik, Inc. will post -7.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at $1,857,536.64. This trade represents a 63.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders have sold 444,512 shares of company stock worth $15,368,662 in the last ninety days.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $25,000. KBC Group NV acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $72,000. Quent Capital LLC acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $192,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $208,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Rubrik during the 2nd quarter worth approximately $227,000.

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.