Rosenblatt Securities Begins Coverage on Rubrik (NYSE:RBRK)

Investment analysts at Rosenblatt Securities started coverage on shares of Rubrik (NYSE:RBRK - Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set a "neutral" rating and a $77.00 price target on the stock. Rosenblatt Securities' price target points to a potential upside of 5.55% from the stock's previous close.

A number of other brokerages have also recently issued reports on RBRK. Guggenheim upped their target price on Rubrik from $52.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Wedbush upped 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. Wells Fargo & Company upped their target price on Rubrik from $40.00 to $76.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Robert W. Baird increased their price objective on Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, December 5th. Finally, Piper Sandler reissued an "overweight" rating and issued a $72.00 price objective (up from $42.00) on shares of Rubrik in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Rubrik has an average rating of "Buy" and a consensus target price of $63.50.

Rubrik Trading Down 3.4 %

NYSE:RBRK traded down $2.56 during mid-day trading on Tuesday, reaching $72.95. The stock had a trading volume of 3,889,494 shares, compared to its average volume of 1,693,571. The business's 50 day moving average is $47.40 and its 200 day moving average is $37.86. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $75.79.

Insiders Place Their Bets

In other news, major shareholder Barry Eggers sold 100,000 shares of the firm's stock in a transaction 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. This trade represents a 63.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the firm's 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 completion of the sale, the executive now owns 462,545 shares of the company's stock, valued at approximately $14,486,909.40. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 560,779 shares of company stock worth $22,317,557 over the last three months.

Hedge Funds Weigh In On Rubrik

Several hedge funds have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. bought a new position in Rubrik during the third quarter worth about $25,000. KBC Group NV bought a new position in Rubrik during the third quarter worth about $72,000. Quent Capital LLC bought a new position in Rubrik during the third quarter worth about $192,000. Mount Yale Investment Advisors LLC bought a new position in Rubrik during the third quarter worth about $208,000. Finally, Sei Investments Co. bought a new position in Rubrik during the second quarter worth about $235,000. Institutional investors own 49.54% of the company's stock.

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.