Rubrik (NYSE:RBRK) Sets New 52-Week High - What's Next?

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $40.31 and last traded at $39.95, with a volume of 114297 shares trading hands. The stock had previously closed at $38.71.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wedbush cut their price target on Rubrik from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 10th. FBN Securities started coverage on Rubrik in a research note on Monday, September 30th. They set an "outperform" rating and a $40.00 price target on the stock. Truist Financial reaffirmed a "buy" rating and set a $43.00 price objective on shares of Rubrik in a research report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $50.00 price objective on shares of Rubrik in a research report on Tuesday, September 10th. Finally, Citigroup raised their price objective on Rubrik from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Sixteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Rubrik has an average rating of "Buy" and an average price target of $44.41.

Rubrik Price Performance

The business has a fifty day moving average price of $32.99.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to analysts' expectations of $195.58 million. Research analysts anticipate that Rubrik, Inc. will post -7.95 earnings per share for the current fiscal year.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 51,924 shares of the firm's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the transaction, the chief financial officer now directly owns 493,360 shares in the company, valued at $15,496,437.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Kiran Kumar Choudary sold 51,924 shares of Rubrik stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the completion of the transaction, the chief financial officer now directly owns 493,360 shares in the company, valued at approximately $15,496,437.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares of the company's stock, valued at approximately $1,857,536.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 297,529 shares of company stock worth $9,445,527 over the last three months.

Institutional Trading of Rubrik

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dragoneer Investment Group LLC acquired a new stake in shares of Rubrik in the second quarter worth approximately $47,523,000. Clearbridge Investments LLC acquired a new stake in shares of Rubrik in the second quarter worth approximately $32,888,000. EPIQ Capital Group LLC acquired a new stake in shares of Rubrik in the second quarter worth approximately $15,111,000. SG Americas Securities LLC acquired a new stake in shares of Rubrik in the third quarter worth approximately $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Rubrik in the second quarter worth approximately $7,665,000.

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.