Rubrik (NYSE:RBRK) Price Target Raised to $85.00

Rubrik (NYSE:RBRK) had its price target hoisted by Citigroup from $75.00 to $85.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on RBRK. Robert W. Baird lifted their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Barclays boosted their price target on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. FBN Securities started coverage on shares of Rubrik in a report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective for the company. Piper Sandler boosted their target price on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, BMO Capital Markets increased their price target on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rubrik has a consensus rating of “Buy” and an average target price of $64.67.

Rubrik Trading Down 0.8 %

NYSE:RBRK opened at $67.68 on Friday. The stock has a 50 day moving average of $60.17 and a two-hundred day moving average of $43.85. Rubrik has a 12 month low of $28.34 and a 12 month high of $75.79.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of Rubrik stock in a transaction on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the completion of the transaction, the chief financial officer now directly owns 423,060 shares in the company, valued at approximately $16,668,564. This trade represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $14,229,014.31. This represents a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 626,055 shares of company stock valued at $38,276,205.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik in the 2nd quarter valued at $47,523,000. Champlain Investment Partners LLC purchased a new position in Rubrik during the 3rd quarter worth $44,418,000. Point72 Asset Management L.P. purchased a new position in shares of Rubrik during the third quarter worth about $42,247,000. PointState Capital LP acquired a new position in shares of Rubrik in the third quarter valued at approximately $40,466,000. Finally, Institutional Venture Management XV LLC increased its stake 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 during the period. 49.54% of the stock is owned by institutional investors and hedge funds.

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.