Rubrik (NYSE:RBRK) Receives "Overweight" Rating from Piper Sandler

Rubrik (NYSE:RBRK - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Piper Sandler in a report released on Friday,Benzinga reports. They currently have a $72.00 price objective on the stock, up from their prior price objective of $42.00. Piper Sandler's target price would indicate a potential upside of 11.40% from the company's current price.

RBRK has been the topic of a number of other reports. Cantor Fitzgerald upgraded shares of Rubrik to a "strong-buy" rating in a research note on Wednesday, November 20th. Robert W. Baird raised their price target on Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday. Wedbush raised their target price on Rubrik from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. CIBC increased their price target 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. Finally, Truist Financial upped their target price on shares of Rubrik from $50.00 to $75.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $60.59.

Rubrik Price Performance

Shares of RBRK stock traded up $10.97 on Friday, hitting $64.63. The stock had a trading volume of 17,262,390 shares, compared to its average volume of 1,179,459. The company's 50 day moving average price is $42.65 and its 200-day moving average price is $36.18. Rubrik has a 1 year low of $28.34 and a 1 year high of $72.66.

Rubrik (NYSE:RBRK - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $195.58 million. On average, sell-side analysts anticipate that Rubrik will post -8.04 EPS for the current year.

Insider Buying and Selling

In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of the firm's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the transaction, the executive now directly owns 462,545 shares in the company, valued at approximately $14,486,909.40. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the company's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $65.78, for a total transaction of $1,973,400.00. Following the completion of the sale, the chief financial officer now directly owns 342,960 shares in the company, valued at $22,559,908.80. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 574,912 shares of company stock valued at $22,673,114.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC purchased a new stake in Rubrik during the 2nd quarter worth $47,523,000. Champlain Investment Partners LLC acquired a new position in shares of Rubrik during the third quarter worth about $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik in the third quarter worth about $42,247,000. PointState Capital LP acquired a new stake in shares of Rubrik in the third quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC grew its stake in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock valued at $37,378,000 after buying an additional 1,131,360 shares in the last quarter.

Rubrik Company Profile

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.