Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Rubrik (NYSE:RBRK) had its price target increased by stock analysts at Wells Fargo & Company from $76.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.41% from the stock’s current price.

RBRK has been the subject of a number of other reports. BMO Capital Markets increased their price target on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Wednesday. Guggenheim reissued a “buy” rating and issued a $76.00 price target on shares of Rubrik in a research note on Wednesday, February 26th. KeyCorp increased their price target on shares of Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Rubrik in a research note on Friday. Two 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. According to data from MarketBeat.com, Rubrik presently has an average rating of “Buy” and an average target price of $69.78.

Rubrik Stock Up 27.6 %

Shares of NYSE:RBRK opened at $70.54 on Friday. The company has a 50-day moving average price of $68.27 and a 200-day moving average price 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 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 analysts’ expectations of $233.13 million. During the same period last year, the business posted ($1.59) earnings per share. The company’s revenue was up 47.5% on a year-over-year basis. Equities analysts expect that Rubrik will post -7.66 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 3,973 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the sale, the chief financial officer now owns 345,374 shares in the company, valued at approximately $24,984,355.16. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Brian K. Mccarthy sold 28,485 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $2,060,604.90. Following the completion of the transaction, the executive now owns 346,560 shares in the company, valued at $25,070,150.40. The trade was a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 625,712 shares of company stock worth $41,583,311.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC raised its position in Rubrik by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after acquiring an additional 300 shares during the period. Russell Investments Group Ltd. bought a new position in Rubrik in the fourth quarter worth approximately $28,000. KBC Group NV raised its position in Rubrik by 19.1% in the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after acquiring an additional 430 shares during the period. Global Retirement Partners LLC raised its position in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares during the period. Finally, Nemes Rush Group LLC bought a new position in Rubrik in the fourth quarter worth approximately $39,000. 49.54% of the stock is currently owned by institutional investors.

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.