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

Rubrik (NYSE:RBRK) had its price target upped by equities research analysts at Piper Sandler from $72.00 to $83.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 25.59% from the company’s current price.

Several other equities research analysts have also issued reports on RBRK. 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. Guggenheim increased their price objective on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a report on Friday, December 6th. BMO Capital Markets raised their price objective on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. FBN Securities began coverage on Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Two investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $64.11.

Rubrik Trading Down 2.9 %

Shares of NYSE RBRK traded down $1.96 during trading hours on Thursday, hitting $66.09. The stock had a trading volume of 1,735,274 shares, compared to its average volume of 1,716,975. The firm’s 50-day moving average price is $48.80 and its two-hundred day moving average price is $38.36. Rubrik has a 52 week low of $28.34 and a 52 week high of $75.79.

Insider Activity at Rubrik

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the transaction, the executive now owns 437,545 shares of the company’s stock, valued at $13,673,281.25. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $69.70, for a total transaction of $125,460.00. Following the transaction, the chief financial officer now owns 342,160 shares of the company’s stock, valued at approximately $23,848,552. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 460,779 shares of company stock worth $19,043,557.

Institutional Investors Weigh In On Rubrik

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of Rubrik by 6.9% in the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after buying an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Rubrik during the third quarter valued at approximately $323,000. Diversified Trust Co bought a new position in Rubrik in the 3rd quarter worth approximately $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Rubrik by 24.8% in the 3rd 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 bought a new stake in shares of Rubrik during the second quarter worth $2,606,000. 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.