KeyCorp Lowers Rubrik (NYSE:RBRK) Price Target to $82.00

Rubrik (NYSE:RBRK - Free Report) had its price objective cut by KeyCorp from $87.00 to $82.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company upped their target price on Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday. Truist Financial raised their target price on Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $85.00 price target on shares of Rubrik in a research note on Friday. Barclays raised their price objective on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Finally, Robert W. Baird dropped their price target on Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $70.00.

Rubrik Price Performance

RBRK stock traded down $0.84 during mid-day trading on Friday, hitting $70.00. 2,174,711 shares of the stock were exchanged, compared to its average volume of 1,918,287. The business has a fifty day moving average price of $68.32 and a 200 day moving average price of $54.04. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00. The stock has a market capitalization of $12.97 billion and a price-to-earnings ratio of -5.08.

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Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to analysts' expectations of $233.13 million. During the same period in the prior year, the business posted ($1.59) earnings per share. The firm's revenue was up 47.5% on a year-over-year basis. As a group, equities analysts forecast that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity at Rubrik

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total value of $2,000,689.56. Following the completion of the sale, the chief technology officer now owns 219,279 shares of the company's stock, valued at $13,505,393.61. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 618,254 shares of company stock worth $40,985,299.

Institutional Trading of Rubrik

Several large investors have recently added to or reduced their stakes in RBRK. Norges Bank acquired a new position in shares of Rubrik in the fourth quarter worth $277,395,000. Vanguard Group Inc. boosted its holdings in Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. FMR LLC boosted its holdings in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in Rubrik in the third quarter worth $44,418,000. Finally, Point72 Asset Management L.P. bought a new stake in Rubrik in the third quarter worth $42,247,000. 49.54% of the stock is owned by institutional investors and hedge funds.

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.