Rubrik (NYSE:RBRK) Trading 2.3% Higher - Here's Why

Rubrik, Inc. (NYSE:RBRK - Get Free Report) traded up 2.3% during trading on Thursday . The stock traded as high as $37.20 and last traded at $36.83. 571,808 shares changed hands during trading, a decline of 61% from the average session volume of 1,474,976 shares. The stock had previously closed at $35.99.

Wall Street Analyst Weigh In

RBRK has been the subject of several analyst reports. FBN Securities assumed coverage on Rubrik in a report on Monday, September 30th. They set an "outperform" rating and a $40.00 price objective for the company. Baird R W raised Rubrik to a "strong-buy" rating in a report on Monday, July 15th. CIBC upped their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a report on Tuesday, September 10th. Citigroup lifted their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $50.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. Sixteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Rubrik has an average rating of "Buy" and a consensus price target of $44.41.

Rubrik Price Performance

The stock's fifty day moving average is $32.91.

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 the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analysts' expectations of $195.58 million. On average, research analysts anticipate that Rubrik, Inc. will post -7.95 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the sale, the executive now directly owns 437,545 shares of the company's stock, valued at approximately $13,673,281.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the sale, the executive now owns 437,545 shares in the company, valued at $13,673,281.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Barry Eggers sold 100,000 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the sale, the insider now directly owns 56,736 shares of the company's stock, valued at $1,857,536.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 297,529 shares of company stock valued at $9,445,527 in the last ninety days.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co acquired a new stake in Rubrik during the third quarter worth about $432,000. Quent Capital LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at approximately $192,000. SG Americas Securities LLC acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $10,200,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rubrik during the 2nd quarter valued at approximately $7,665,000. Finally, Ghisallo Capital Management LLC acquired a new position in Rubrik in the second quarter valued at approximately $5,366,000.

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.