Rubrik (NYSE:RBRK) Price Target Raised to $75.00

Rubrik (NYSE:RBRK) had its price target hoisted by Truist Financial from $50.00 to $75.00 in a research report report published on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird increased their price target on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. CIBC increased 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. Cantor Fitzgerald upgraded Rubrik to a “strong-buy” rating in a research report on Wednesday, November 20th. Barclays upped their price objective on shares of Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler started coverage on Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price on the stock. One investment analyst has 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 data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $60.59.

Rubrik Stock Performance

RBRK stock opened at $64.63 on Friday. Rubrik has a 52 week low of $28.34 and a 52 week high of $72.66. The company’s 50-day simple moving average is $42.65 and its 200 day simple moving average is $36.20.

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

Insider Activity

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $64.37, for a total value of $1,609,250.00. Following the transaction, the executive now owns 312,545 shares in the company, valued at approximately $20,118,521.65. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 56,736 shares in the company, valued at $1,857,536.64. This trade represents a 63.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 574,912 shares of company stock valued at $22,673,114.

Institutional Investors Weigh In On Rubrik

A number of hedge funds have recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik during the 2nd quarter valued at $47,523,000. Champlain Investment Partners LLC acquired a new position in shares of Rubrik during the third quarter valued at about $44,418,000. Point72 Asset Management L.P. bought a new position in shares of Rubrik during the 3rd quarter worth about $42,247,000. PointState Capital LP acquired a new stake in shares of Rubrik in the 3rd quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC increased its position in Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after buying an additional 1,131,360 shares in 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.