Rubrik (NYSE:RBRK) Price Target Raised to $51.00 at Barclays

Rubrik (NYSE:RBRK) had its target price hoisted by Barclays from $42.00 to $51.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird lifted their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. CIBC upped their target price on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. FBN Securities started coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target for the company. Oppenheimer assumed coverage on Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Finally, Citigroup increased their price objective on Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of “Buy” and an average price target of $46.71.

Rubrik Stock Up 3.9 %

RBRK stock opened at $51.05 on Wednesday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $51.58. The business has a 50-day moving average of $38.68 and a 200-day moving average of $34.94.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. On average, equities analysts predict that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kiran Kumar Choudary sold 51,924 shares of Rubrik stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now directly owns 493,360 shares in the company, valued at approximately $15,496,437.60. The trade was a 9.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,312 shares of company stock valued at $17,657,062.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new position in shares of Rubrik in the 3rd quarter valued at approximately $25,000. KBC Group NV bought a new position in Rubrik in the third quarter valued at approximately $72,000. Quent Capital LLC bought a new position in Rubrik in the third quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC acquired a new position in Rubrik during the third quarter valued at approximately $208,000. Finally, Barclays PLC lifted its stake in Rubrik by 140.6% during the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares during the last quarter.

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.