KeyCorp Lowers Rubrik (NYSE:RBRK) Price Target to $82.00

Rubrik (NYSE:RBRK) had its price target dropped by KeyCorp from $87.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 16.25% from the stock’s previous close.

Several other equities analysts have also recently commented on RBRK. Mizuho boosted their target price on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Robert W. Baird dropped their price objective on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday. William Blair assumed coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. Rosenblatt Securities raised shares of 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. Finally, Barclays increased 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. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik presently has an average rating of “Buy” and a consensus target price of $69.78.

Rubrik Stock Performance

Shares of NYSE:RBRK opened at $70.54 on Friday. The firm has a 50 day moving average of $68.27 and a 200-day moving average of $53.64. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00.

Rubrik (NYSE:RBRK) last issued its earnings results 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 the consensus estimate of $233.13 million. The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.59) EPS. As a group, equities research analysts predict that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 227,596 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $14,229,014.31. This trade represents a 50.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $68.03, for a total transaction of $122,454.00. Following the completion of the sale, the chief financial officer now owns 343,774 shares of the company’s stock, valued at $23,386,945.22. The trade was a 0.52 % 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 three months.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently bought and sold shares of RBRK. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Rubrik in the third quarter worth $20,774,000. KBC Group NV acquired a new stake in Rubrik in the third quarter worth $72,000. Natixis Advisors LLC grew its holdings in Rubrik by 302.5% in the third quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after purchasing an additional 40,036 shares during the period. Whalen Wealth Management Inc. bought a new position in shares of Rubrik in the third quarter valued at $243,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Rubrik by 134.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock valued at $10,462,000 after buying an additional 186,485 shares in the last quarter. 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.