Rubrik, Inc. (NYSE:RBRK) Receives Average Rating of “Buy” from Analysts

Shares of Rubrik, Inc. (NYSE:RBRK) have been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $64.11.

A number of equities analysts have issued reports on the stock. FBN Securities assumed coverage on shares of Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price for the company. BMO Capital Markets lifted their price objective on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Cantor Fitzgerald increased their target price on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. CIBC boosted their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Finally, Piper Sandler upped their price objective on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th.

Rubrik Trading Down 0.1 %

Rubrik stock opened at $68.27 on Tuesday. Rubrik has a 52 week low of $28.34 and a 52 week high of $75.79. The firm’s 50-day simple moving average is $52.77 and its 200 day simple moving average is $40.11.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 1,500 shares of Rubrik stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the transaction, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at $16,668,564. The trade was a 0.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $41.39, for a total transaction of $1,034,750.00. Following the sale, the executive now directly owns 387,545 shares of the company’s stock, valued at approximately $16,040,487.55. This trade represents a 6.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,441 shares of company stock valued at $15,823,512 in the last ninety days.

Hedge Funds Weigh In On Rubrik

Hedge funds have recently made changes to their positions in the business. Dragoneer Investment Group LLC purchased a new stake in Rubrik during the 2nd quarter worth $47,523,000. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik in the third quarter worth about $44,418,000. Point72 Asset Management L.P. acquired a new stake in shares of Rubrik in the third quarter valued at about $42,247,000. PointState Capital LP purchased a new stake in shares of Rubrik during the 3rd quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC lifted its position in Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after acquiring an additional 1,131,360 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.