KeyCorp Raises Rubrik (NYSE:RBRK) Price Target to $87.00

Rubrik (NYSE:RBRK) had its target price boosted by equities researchers at KeyCorp from $75.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 12.24% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Oppenheimer began coverage on shares of Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Barclays increased their price objective on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Piper Sandler lifted their price target on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Mizuho raised their target price on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Finally, Robert W. Baird boosted their target price on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Three investment 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. According to data from MarketBeat, Rubrik presently has an average rating of “Moderate Buy” and an average price target of $65.33.

Rubrik Trading Up 6.3 %

RBRK stock opened at $77.51 on Tuesday. The firm has a 50 day moving average price of $69.27 and a 200-day moving average price of $48.72. Rubrik has a 52-week low of $28.34 and a 52-week high of $79.05.

Insiders Place Their Bets

In related news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now directly owns 153 shares of the company’s stock, valued at $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $45.00, for a total value of $81,000.00. Following the sale, the chief financial officer now owns 384,560 shares of the company’s stock, valued at approximately $17,305,200. This represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 646,434 shares of company stock worth $42,154,951 in the last ninety days.

Institutional Investors Weigh In On Rubrik

Large investors have recently modified their holdings of the business. Wealthcare Advisory Partners LLC boosted its stake in Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after purchasing an additional 300 shares in the last quarter. KBC Group NV lifted its position in Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after purchasing an additional 430 shares during the period. Global Retirement Partners LLC grew its position in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the period. Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter valued at about $39,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik in the third quarter worth about $25,000. 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.