Rubrik, Inc. (NYSE:RBRK) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK - Get Free Report) have earned an average recommendation of "Buy" from the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $64.11.

RBRK has been the topic of a number of research reports. Wedbush upped their price objective on Rubrik from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. KeyCorp raised their price target on shares of Rubrik from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Barclays raised their target price on shares of Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Finally, CIBC boosted their price target on Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a research note on Tuesday, September 10th.

Rubrik Trading Down 4.3 %

Rubrik stock traded down $2.91 during mid-day trading on Tuesday, hitting $65.36. 1,719,751 shares of the company's stock traded hands, compared to its average volume of 1,794,283. The firm has a 50 day simple moving average of $53.37 and a two-hundred day simple moving average of $40.37. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $75.79.

Insider Transactions at Rubrik

In related news, CFO Kiran Kumar Choudary sold 45,800 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the completion of the transaction, the chief financial officer now directly owns 448,560 shares of the company's stock, valued at $17,592,523.20. This trade represents a 9.26 % decrease in their position. The sale was disclosed in a document filed 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, November 1st. The shares were sold at an average price of $41.39, for a total value of $1,034,750.00. Following the completion of the sale, the executive now owns 387,545 shares in the company, valued at $16,040,487.55. This trade represents a 6.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,441 shares of company stock worth $15,823,512.

Institutional Trading of Rubrik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC acquired a new stake in Rubrik during the 2nd quarter worth about $47,523,000. Champlain Investment Partners LLC acquired a new stake in Rubrik during the third quarter worth approximately $44,418,000. Point72 Asset Management L.P. bought a new stake in Rubrik in the third quarter worth approximately $42,247,000. PointState Capital LP acquired a new position in Rubrik in the third quarter valued at approximately $40,466,000. Finally, Institutional Venture Management XV LLC boosted its holdings in shares of Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock worth $37,378,000 after buying an additional 1,131,360 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company's stock.

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.