Rubrik (NYSE:RBRK) Price Target Lowered to $76.00 at KeyCorp

Rubrik (NYSE:RBRK) had its target price cut by KeyCorp from $82.00 to $76.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on RBRK. Piper Sandler lowered their target price on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets boosted their price objective on Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They issued a “market perform” rating on the stock. Wedbush boosted their price target on shares of Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Finally, Citigroup raised their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $68.83.

Rubrik Stock Performance

RBRK stock opened at $61.48 on Thursday. Rubrik has a one year low of $28.34 and a one year high of $80.00. The firm has a market cap of $11.67 billion and a PE ratio of -4.46. The firm’s 50 day moving average price is $64.60 and its 200-day moving average price is $58.79.

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

Insider Buying and Selling

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,485 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.85, for a total transaction of $2,301,562.25. Following the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at $15,535,917.15. This represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 2,000 shares of Rubrik stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total transaction of $124,060.00. Following the completion of the transaction, the chief financial officer now directly owns 614,798 shares in the company, valued at approximately $38,135,919.94. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 515,619 shares of company stock valued at $34,167,897.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RBRK. Norges Bank bought a new position in Rubrik during the fourth quarter valued at about $277,395,000. Vanguard Group Inc. increased its position in shares of Rubrik by 114.1% during the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after purchasing an additional 3,372,323 shares during the period. FMR LLC raised its stake in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Rubrik in the fourth quarter valued at $85,331,000. Finally, Bank of America Corp DE boosted its stake in Rubrik by 1,305.1% during the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock worth $72,994,000 after buying an additional 1,037,319 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.