Rubrik (NYSE:RBRK) Price Target Raised to $76.00

Rubrik (NYSE:RBRK) had its price target upped by Wells Fargo & Company from $40.00 to $76.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently commented on the stock. BMO Capital Markets boosted their target price on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup boosted their price target on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Robert W. Baird raised their price objective on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday. Oppenheimer started coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Finally, Barclays increased their price target on Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. One analyst has 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 MarketBeat.com, Rubrik has an average rating of “Buy” and an average price target of $60.59.

Rubrik Price Performance

NYSE:RBRK opened at $64.63 on Friday. The business’s 50-day simple moving average is $42.65 and its two-hundred day simple moving average is $36.20. Rubrik has a 52 week low of $28.34 and a 52 week high of $72.66.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. As a group, analysts expect that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Transactions at Rubrik

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 sale, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. This trade represents a 63.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $65.78, for a total transaction of $1,973,400.00. Following the completion of the transaction, the chief financial officer now owns 342,960 shares in the company, valued at $22,559,908.80. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 574,912 shares of company stock worth $22,673,114.

Institutional Trading of Rubrik

Large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in Rubrik during the 3rd quarter valued at about $25,000. KBC Group NV bought a new position in shares of Rubrik during the third quarter valued at approximately $72,000. Quent Capital LLC bought a new position in shares of Rubrik during the third quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC purchased a new position in Rubrik during the third quarter valued at approximately $208,000. Finally, Sei Investments Co. bought a new position in Rubrik in the second quarter worth approximately $235,000.

Rubrik Company Profile

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.