Rubrik, Inc. (NYSE:RBRK) Receives $65.33 Consensus Target Price from Brokerages

Rubrik, Inc. (NYSE:RBRK) has earned an average rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $65.33.

Several brokerages recently issued reports on RBRK. Barclays increased their price objective on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets lifted 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. Robert W. Baird boosted their price target on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Citigroup raised their price objective on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Rosenblatt Securities initiated coverage on Rubrik in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price for the company.

Rubrik Stock Performance

RBRK opened at $69.67 on Wednesday. The stock has a fifty day moving average of $70.36 and a 200-day moving average of $50.91. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00.

Insider Buying and Selling

In related news, CTO Arvind Nithrakashyap sold 227,596 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director now owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,134 shares of company stock valued at $40,504,626 over the last ninety days.

Institutional Investors Weigh In On Rubrik

Several large investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new position in shares of Rubrik during the 3rd quarter worth about $25,000. Russell Investments Group Ltd. bought a new position in Rubrik in the 4th quarter valued at about $28,000. Global Retirement Partners LLC boosted its stake in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after buying an additional 500 shares in the last quarter. Nemes Rush Group LLC bought a new stake in shares of Rubrik during the fourth quarter worth $39,000. Finally, Point72 Hong Kong Ltd bought a new stake in Rubrik during the 4th quarter worth approximately $47,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Company Profile

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.