Rubrik (NYSE:RBRK) Reaches New 1-Year High After Analyst Upgrade

Rubrik, Inc. (NYSE:RBRK - Get Free Report) hit a new 52-week high on Thursday after Wedbush raised their price target on the stock from $44.00 to $48.00. Wedbush currently has an outperform rating on the stock. Rubrik traded as high as $40.66 and last traded at $40.28, with a volume of 638526 shares trading hands. The stock had previously closed at $38.87.

RBRK has been the topic of several other reports. FBN Securities initiated coverage on shares of Rubrik in a research report on Monday, September 30th. They issued an "outperform" rating and a $40.00 price target on the stock. CIBC increased their target price on shares of Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a research note on Tuesday, September 10th. Piper Sandler initiated coverage on shares of Rubrik in a research report on Monday, August 19th. They issued an "overweight" rating and a $42.00 price target on the stock. Baird R W upgraded Rubrik to a "strong-buy" rating in a research report on Monday, July 15th. Finally, Citigroup lifted their target price on Rubrik from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Sixteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $44.65.

Insider Buying and Selling

In related news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction 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 completion of the sale, the insider now owns 56,736 shares of the company's stock, valued at approximately $1,857,536.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Barry Eggers sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now directly owns 56,736 shares in the company, valued at approximately $1,857,536.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the transaction, the executive now owns 412,545 shares in the company, valued at approximately $16,501,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 368,329 shares of company stock worth $12,241,803.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Rubrik in the third quarter valued at about $192,000. Register Financial Advisors LLC bought a new position in shares of Rubrik during the 2nd quarter worth about $227,000. Sei Investments Co. acquired a new position in Rubrik in the second quarter worth about $235,000. PFG Investments LLC bought a new position in Rubrik during the second quarter worth about $242,000. Finally, Natixis Advisors LLC bought a new position in Rubrik during the second quarter worth about $406,000.

Rubrik Stock Up 1.6 %

The business's fifty day moving average is $33.82.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analysts' expectations of $195.58 million. On average, equities research analysts predict that Rubrik, Inc. will post -7.95 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.