Rubrik, Inc. (NYSE:RBRK) Given Average Rating of "Buy" by Brokerages

Rubrik, Inc. (NYSE:RBRK - Get Free Report) has earned a consensus rating of "Buy" from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. Sixteen analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $44.65.

Several analysts have recently commented on RBRK shares. FBN Securities started coverage on shares of Rubrik in a research note on Monday, September 30th. They set an "outperform" rating and a $40.00 price target on the stock. Baird R W raised shares of Rubrik to a "strong-buy" rating in a research note on Monday, July 15th. Guggenheim reaffirmed a "buy" rating and issued a $48.00 price objective on shares of Rubrik in a research note on Tuesday, June 25th. Citigroup raised their price objective on shares of Rubrik from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets reduced their price objective on shares of Rubrik from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 10th.

Insiders Place Their Bets

In related news, CFO Kiran Kumar Choudary sold 45,800 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the sale, the chief financial officer now directly owns 448,560 shares in the company, valued at $17,592,523.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of Rubrik stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares in the company, valued at approximately $14,486,909.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 45,800 shares of Rubrik stock in a transaction on Monday, October 14th. The shares were sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the completion of the sale, the chief financial officer now owns 448,560 shares in the company, valued at $17,592,523.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 368,329 shares of company stock worth $12,241,803.

Institutional Investors Weigh In On Rubrik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC bought a new position in Rubrik during the second quarter worth about $47,523,000. Clearbridge Investments LLC bought a new position in Rubrik during the second quarter worth about $32,888,000. EPIQ Capital Group LLC bought a new position in Rubrik during the second quarter worth about $15,111,000. SG Americas Securities LLC bought a new position in Rubrik during the third quarter worth about $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Rubrik during the second quarter worth about $7,665,000.

Rubrik Trading Up 1.6 %

Rubrik stock traded up $0.62 during trading hours on Thursday, hitting $39.49. 1,859,263 shares of the stock were exchanged, compared to its average volume of 1,523,612. Rubrik has a 12 month low of $28.34 and a 12 month high of $40.75. The stock has a 50-day moving average of $33.82.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to analysts' expectations of $195.58 million. As a group, equities research analysts predict that Rubrik will post -7.95 EPS for the current 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.