Rubrik, Inc. (NYSE:RBRK) Receives Average Rating of “Buy” from Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK) have received an average recommendation of “Buy” from the eighteen brokerages that are covering the stock, MarketBeat reports. Sixteen analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $44.65.

RBRK has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a report on Tuesday, September 10th. Wells Fargo & Company cut their target price on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Piper Sandler started coverage on shares of Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 target price for the company. Wedbush increased their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, BMO Capital Markets cut their target price on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th.

Insider Activity at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a filing with the SEC, which is available through this link. In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders have sold 375,912 shares of company stock valued at $12,546,185 over the last three months.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RBRK. Dragoneer Investment Group LLC purchased a new position in shares of Rubrik during the second quarter worth approximately $47,523,000. Clearbridge Investments LLC purchased a new position in shares of Rubrik during the second quarter worth approximately $32,888,000. EPIQ Capital Group LLC purchased a new position in shares of Rubrik during the second quarter worth approximately $15,111,000. SG Americas Securities LLC bought a new position in shares of Rubrik in the third quarter worth approximately $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Rubrik in the second quarter worth approximately $7,665,000.

Rubrik Trading Down 2.4 %

RBRK opened at $37.69 on Thursday. Rubrik has a 1 year low of $28.34 and a 1 year high of $41.33. The business’s fifty day moving average price is $34.37.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. On average, analysts expect that Rubrik will post -7.94 EPS for the current fiscal year.

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.