Rubrik (NYSE:RBRK) Earns Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Rubrik (NYSE:RBRK - Free Report) in a report published on Wednesday,Benzinga reports. They currently have a $76.00 price target on the stock.

RBRK has been the topic of several other reports. Citigroup boosted their target price on Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Cantor Fitzgerald boosted their target price on Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Piper Sandler boosted their target price on Rubrik from $72.00 to $83.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. BMO Capital Markets boosted their target price on Rubrik from $38.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Finally, Rosenblatt Securities started coverage on Rubrik in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 target price on the stock. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.56.

Rubrik Trading Up 1.0 %

Shares of NYSE RBRK traded up $0.66 during mid-day trading on Wednesday, hitting $64.96. 1,685,137 shares of the stock traded hands, compared to its average volume of 2,071,045. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00. The stock has a fifty day moving average price of $69.90 and a 200-day moving average price of $51.95.

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Insiders Place Their Bets

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,499 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total value of $193,275.00. Following the completion of the sale, the director now owns 153 shares of the company's stock, valued at approximately $11,828.43. The trade was a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,334 shares of company stock worth $40,413,942 over the last quarter.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently made changes to their positions in RBRK. Diversify Wealth Management LLC bought a new position in shares of Rubrik in the third quarter worth about $1,808,000. Stephens Investment Management Group LLC boosted its stake in shares of Rubrik by 3.5% in the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company's stock worth $8,499,000 after acquiring an additional 8,903 shares during the period. ARK Investment Management LLC boosted its stake in shares of Rubrik by 113.6% in the third quarter. ARK Investment Management LLC now owns 420,932 shares of the company's stock worth $13,533,000 after acquiring an additional 223,850 shares during the period. Pathway Capital Management LP bought a new position in shares of Rubrik in the third quarter worth about $23,527,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Rubrik in the third quarter worth about $20,774,000. Institutional investors own 49.54% of the company's stock.

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.