Rubrik (NYSE:RBRK) Earns Market Perform Rating from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Rubrik (NYSE:RBRK) in a report issued on Wednesday, Marketbeat reports. The brokerage issued a market perform rating on the stock.

A number of other analysts have also commented on RBRK. Truist Financial reiterated a “buy” rating and issued a $43.00 price objective on shares of Rubrik in a research report on Tuesday, September 10th. FBN Securities assumed coverage on Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective on the stock. Piper Sandler began coverage on Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective on the stock. CIBC boosted their target price on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird upped their price objective on Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $45.00.

Rubrik Price Performance

RBRK stock traded down $1.26 during midday trading on Wednesday, reaching $43.24. The stock had a trading volume of 1,627,446 shares, compared to its average volume of 1,489,906. The business has a fifty day simple moving average of $37.18 and a two-hundred day simple moving average of $34.47. Rubrik has a twelve month low of $28.34 and a twelve month high of $45.90.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. Research analysts expect that Rubrik will post -7.94 EPS for the current year.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 2,670 shares of Rubrik stock in a transaction on Monday, November 11th. The stock was sold at an average price of $45.07, for a total transaction of $120,336.90. Following the sale, the chief financial officer now directly owns 396,160 shares in the company, valued at approximately $17,854,931.20. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares in the company, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 444,512 shares of company stock worth $15,368,662 over the last 90 days.

Institutional Trading of Rubrik

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Rubrik by 133.3% in the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock valued at $18,290,000 after purchasing an additional 324,951 shares in the last quarter. Barclays PLC grew its position in shares of Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after purchasing an additional 7,029 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Rubrik in the third quarter valued at $571,000. State Street Corp grew its position in shares of Rubrik by 368.9% in the third quarter. State Street Corp now owns 421,096 shares of the company’s stock valued at $13,538,000 after purchasing an additional 331,296 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Rubrik by 407.7% in the third quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock valued at $2,204,000 after purchasing an additional 55,062 shares in the last quarter.

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.