Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Citigroup Analyst Says

Rubrik (NYSE:RBRK - Free Report) had its price target hoisted by Citigroup from $75.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Barclays raised 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. Robert W. Baird raised their price objective on shares of Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Wedbush raised their price objective on shares of Rubrik from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Cantor Fitzgerald raised their price objective on shares of Rubrik from $58.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Finally, FBN Securities initiated coverage on shares of Rubrik in a research note on Monday, September 30th. They set an "outperform" rating and a $40.00 price target on the stock. Two equities research 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $64.67.

Rubrik Price Performance

Rubrik stock traded down $0.56 during mid-day trading on Friday, reaching $67.68. 4,409,924 shares of the company's stock were exchanged, compared to its average volume of 2,950,982. Rubrik has a twelve month low of $28.34 and a twelve month high of $75.79. The company has a fifty day moving average of $60.17 and a 200-day moving average of $43.76.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,499 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $67.66, for a total transaction of $2,198,882.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 626,055 shares of company stock valued at $38,276,205.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC bought a new position in Rubrik during the 2nd quarter valued at $47,523,000. Champlain Investment Partners LLC bought a new position in Rubrik during the 3rd quarter valued at $44,418,000. Point72 Asset Management L.P. bought a new position in Rubrik during the 3rd quarter valued at $42,247,000. PointState Capital LP bought a new position in Rubrik during the 3rd quarter valued at $40,466,000. Finally, Institutional Venture Management XV LLC boosted 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 acquiring an additional 1,131,360 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors.

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.