Rubrik (NYSE:RBRK) Research Coverage Started at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Rubrik (NYSE:RBRK) in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $77.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald boosted their price objective on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Wedbush boosted their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Barclays lifted their price objective on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Citigroup upped their target price on shares of Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $64.11.

Rubrik Trading Down 1.6 %

RBRK opened at $66.98 on Tuesday. The company’s 50-day moving average price is $49.37 and its 200 day moving average price is $38.56. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $75.79.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of Rubrik stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the transaction, the chief financial officer now directly owns 493,360 shares in the company, valued at $15,496,437.60. This represents a 9.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 493,237 shares of company stock worth $21,391,568.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently bought and sold shares of RBRK. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik in the second quarter worth about $47,523,000. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at approximately $44,418,000. Point72 Asset Management L.P. acquired a new position in Rubrik in the 3rd quarter worth approximately $42,247,000. PointState Capital LP purchased a new position in Rubrik during the 3rd quarter worth approximately $40,466,000. Finally, Institutional Venture Management XV LLC raised its stake in Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares during the period. Hedge funds and other 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.