Brokerages Set Rubrik, Inc. (NYSE:RBRK) Target Price at $64.67

Rubrik, Inc. (NYSE:RBRK) has been assigned an average rating of “Buy” from the twenty brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $64.67.

Several equities research analysts recently issued reports on the company. Oppenheimer assumed coverage on Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Cantor Fitzgerald raised their price target on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wedbush raised their price target on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their price target on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Robert W. Baird raised their price target on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th.

Rubrik Price Performance

Shares of Rubrik stock opened at $74.33 on Friday. The stock has a 50-day moving average price of $64.44 and a 200 day moving average price of $45.93. Rubrik has a 1 year low of $28.34 and a 1 year high of $75.79.

Insider Transactions at Rubrik

In related news, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the transaction, the director now owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $43.15, for a total value of $77,670.00. Following the transaction, the chief financial officer now owns 406,160 shares of the company’s stock, valued at $17,525,804. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 594,255 shares of company stock valued at $37,016,628.

Hedge Funds Weigh In On Rubrik

Several hedge funds and other institutional investors have recently modified their holdings of RBRK. Janus Henderson Group PLC raised its position in Rubrik by 6.9% in 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 bought a new position in Rubrik in the 3rd quarter valued at $323,000. Diversified Trust Co bought a new position in Rubrik in the 3rd quarter valued at $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 purchasing an additional 49,372 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Rubrik in the 2nd quarter valued at $427,000. 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.