Wells Fargo & Company Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its price target upped by Wells Fargo & Company from $76.00 to $80.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts also recently weighed in on RBRK. Robert W. Baird decreased their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays increased their target price on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Guggenheim restated a “buy” rating and set a $76.00 target price on shares of Rubrik in a research note on Wednesday, February 26th. Truist Financial increased their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, William Blair started coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $69.78.

Rubrik Trading Up 27.6 %

RBRK opened at $70.54 on Friday. The stock has a 50-day moving average of $68.20 and a 200-day moving average of $53.27. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.59) EPS. As a group, equities research analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Insider Transactions at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total value of $2,000,689.56. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 153 shares of the company’s stock, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,712 shares of company stock valued at $41,583,311.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently bought and sold shares of RBRK. Sumitomo Mitsui Trust Group Inc. bought a new stake in Rubrik during the 3rd quarter worth approximately $20,774,000. KBC Group NV bought a new stake in Rubrik during the 3rd quarter worth approximately $72,000. Natixis Advisors LLC grew its position in Rubrik by 302.5% during the 3rd quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after acquiring an additional 40,036 shares during the last quarter. Whalen Wealth Management Inc. bought a new stake in Rubrik during the 3rd quarter worth approximately $243,000. Finally, Charles Schwab Investment Management Inc. grew its position in Rubrik by 134.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock worth $10,462,000 after acquiring an additional 186,485 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors.

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.