Rubrik (NYSE:RBRK) Given New $87.00 Price Target at KeyCorp

Rubrik (NYSE:RBRK) had its price target lifted by research analysts at KeyCorp from $75.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 15.45% from the stock’s current price.

Several other research firms have also weighed in on RBRK. Barclays upped their price objective on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Robert W. Baird increased their price objective on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Mizuho boosted their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Oppenheimer began coverage on Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating for the company. Finally, Guggenheim boosted their price target on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.33.

Rubrik Trading Down 2.1 %

Rubrik stock traded down $1.61 during midday trading on Tuesday, reaching $75.36. The stock had a trading volume of 204,265 shares, compared to its average volume of 2,090,951. The firm’s fifty day simple moving average is $68.33 and its two-hundred day simple moving average is $48.25. Rubrik has a twelve month low of $28.34 and a twelve month high of $79.05.

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares of the company’s stock, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the company’s stock in a transaction 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. Insiders sold a total of 656,434 shares of company stock valued at $42,599,751 in the last ninety days.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently modified their holdings of RBRK. Magnetar Financial LLC bought a new stake in shares of Rubrik in the 4th quarter valued at $237,000. Natixis Advisors LLC raised its position in shares of Rubrik by 18.9% during the fourth quarter. Natixis Advisors LLC now owns 63,362 shares of the company’s stock worth $4,141,000 after purchasing an additional 10,091 shares during the period. Swiss National Bank boosted its stake in Rubrik by 24.5% in the 4th quarter. Swiss National Bank now owns 128,400 shares of the company’s stock worth $8,392,000 after purchasing an additional 25,300 shares during the period. Rakuten Securities Inc. bought a new position in shares of Rubrik during the fourth quarter worth about $465,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $1,495,000. 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.