Rubrik (NYSE:RBRK) Earns Market Perform Rating from Analysts at William Blair

William Blair started coverage on shares of Rubrik (NYSE:RBRK - Free Report) in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage issued a market perform rating on the stock.

A number of other research firms have also recently issued reports on RBRK. Truist Financial lifted their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Citigroup raised their target price on Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Barclays boosted their price target on Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Finally, Wedbush upped their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Three 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 stock. According to MarketBeat.com, Rubrik presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.33.

Rubrik Stock Down 4.0 %

RBRK traded down $3.09 on Friday, reaching $73.88. The stock had a trading volume of 1,179,299 shares, compared to its average volume of 2,127,701. Rubrik has a 12-month low of $28.34 and a 12-month high of $79.05. The business's 50-day moving average price is $68.33 and its two-hundred day moving average price is $48.25.

Insider Buying and Selling at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,485 shares of Rubrik stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares of the company's stock, valued at approximately $16,413,033.15. The trade was a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now owns 153 shares in the company, valued at $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 656,434 shares of company stock worth $42,599,751.

Institutional Investors Weigh In On Rubrik

A number of institutional investors and hedge funds have recently bought and sold shares of RBRK. Champlain Investment Partners LLC acquired a new stake in shares of Rubrik during the third quarter valued at $44,418,000. Point72 Asset Management L.P. acquired a new position in shares of Rubrik in the third quarter valued at approximately $42,247,000. PointState Capital LP purchased a new position in shares of Rubrik during the third quarter valued at approximately $40,466,000. Institutional Venture Management XV LLC boosted its position in Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock worth $37,378,000 after acquiring an additional 1,131,360 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Rubrik in the 3rd quarter worth approximately $35,359,000. Hedge funds and other institutional investors 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.