Rubrik (NYSE:RBRK) Sets New 52-Week High - Time to Buy?

Rubrik, Inc. (NYSE:RBRK - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.38 and last traded at $41.24, with a volume of 91753 shares trading hands. The stock had previously closed at $40.58.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RBRK. Citigroup lifted 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. FBN Securities assumed coverage on Rubrik in a research report on Monday, September 30th. They set an "outperform" rating and a $40.00 target price for the company. Robert W. Baird assumed coverage on Rubrik in a research report on Monday, July 15th. They set an "outperform" rating and a $42.00 target price for the company. Wells Fargo & Company dropped their target price on Rubrik from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, September 10th. Finally, Truist Financial restated a "buy" rating and set a $43.00 target price on shares of Rubrik in a research report on Tuesday, September 10th. Sixteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rubrik presently has a consensus rating of "Buy" and a consensus target price of $44.65.

Rubrik Stock Up 5.0 %

The business's 50 day moving average price is $34.69.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) 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. As a group, equities research analysts anticipate that Rubrik, Inc. will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 7,583 shares of the company's stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $40.14, for a total transaction of $304,381.62. Following the completion of the transaction, the chief financial officer now directly owns 438,560 shares of the company's stock, valued at $17,603,798.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kiran Kumar Choudary sold 7,583 shares of the company's stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $40.14, for a total transaction of $304,381.62. Following the completion of the transaction, the chief financial officer now directly owns 438,560 shares of the company's stock, valued at $17,603,798.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the transaction, the executive now directly owns 412,545 shares of the company's stock, valued at $16,501,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,912 shares of company stock valued at $12,546,185.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Register Financial Advisors LLC acquired a new position in Rubrik during the second quarter valued at approximately $227,000. Zweig DiMenna Associates LLC acquired a new position in Rubrik during the second quarter valued at approximately $6,730,000. EFG Asset Management North America Corp. acquired a new position in Rubrik during the second quarter valued at approximately $925,000. ARK Investment Management LLC acquired a new position in Rubrik during the second quarter valued at approximately $6,043,000. Finally, Cisco Systems Inc. acquired a new position in Rubrik during the second quarter valued at approximately $5,613,000.

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.