Rubrik (NYSE:RBRK) Price Target Raised to $83.00

Rubrik (NYSE:RBRK) had its target price increased by Piper Sandler from $72.00 to $83.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

RBRK has been the subject of several other research reports. FBN Securities started coverage on shares of Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price for the company. CIBC lifted their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald boosted their target price on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. KeyCorp raised their price target on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Barclays boosted their price objective on 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, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $64.11.

Rubrik Price Performance

Shares of RBRK opened at $66.12 on Thursday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $75.79. The business has a 50-day moving average of $49.90 and a 200 day moving average of $38.81.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 3,973 shares of Rubrik stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $287,406.82. Following the completion of the sale, the chief financial officer now owns 345,374 shares of the company’s stock, valued at $24,984,355.16. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 28,485 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $2,060,604.90. Following the transaction, the executive now owns 346,560 shares in the company, valued at $25,070,150.40. This trade represents a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 493,237 shares of company stock valued at $21,391,568 in the last quarter.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RBRK. Janus Henderson Group PLC grew its holdings in shares of Rubrik by 6.9% during the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after purchasing an additional 23,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rubrik during the third quarter valued at about $323,000. Diversified Trust Co purchased a new stake in Rubrik during the third quarter valued at about $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Rubrik by 24.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock valued at $7,998,000 after buying an additional 49,372 shares during the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new position in shares of Rubrik in the second quarter worth about $2,606,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.