Citigroup Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its target price boosted by Citigroup from $75.00 to $85.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other brokerages have also issued reports on RBRK. Rosenblatt Securities began coverage on Rubrik in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Barclays increased their price objective on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets boosted their target price on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Mizuho raised their price target on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler lifted their price objective on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Rubrik has a consensus rating of “Buy” and a consensus price target of $64.67.

Rubrik Stock Down 0.8 %

NYSE RBRK opened at $67.68 on Friday. The stock has a 50-day moving average of $60.17 and a 200 day moving average of $43.66. Rubrik has a twelve month low of $28.34 and a twelve month high of $75.79.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 3,973 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $287,406.82. Following the completion of the sale, the chief financial officer now directly owns 345,374 shares of the company’s stock, valued at approximately $24,984,355.16. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the completion of the transaction, the executive now directly owns 362,545 shares in the company, valued at $18,265,017.10. The trade was a 6.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 626,055 shares of company stock worth $38,276,205 in the last ninety days.

Institutional Trading of Rubrik

Several institutional investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the third quarter worth $25,000. KBC Group NV acquired a new position in Rubrik during the 3rd quarter worth about $72,000. Shikiar Asset Management Inc. acquired a new position in Rubrik during the 4th quarter worth about $203,000. Perpetual Ltd purchased a new position in Rubrik during the 4th quarter valued at about $281,000. Finally, Green Alpha Advisors LLC acquired a new position in Rubrik in the 4th quarter valued at about $346,000. Institutional investors and hedge funds 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.