Rubrik (NYSE:RBRK) Hits New 52-Week High - Here's What Happened

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $76.21 and last traded at $74.33, with a volume of 375363 shares. The stock had previously closed at $74.11.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RBRK. Truist Financial increased their price target on Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Wedbush increased their price target on Rubrik from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Robert W. Baird increased their price target on Rubrik from $48.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, December 5th. BMO Capital Markets raised their target price on Rubrik from $38.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company raised their target price on Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $64.67.

Rubrik Stock Down 3.4 %

The stock has a 50 day moving average price of $65.39 and a 200 day moving average price of $46.57.

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the completion of the transaction, the executive now directly owns 362,545 shares of the company's stock, valued at $18,265,017.10. This trade represents a 6.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $43.15, for a total value of $77,670.00. Following the transaction, the chief financial officer now directly owns 406,160 shares of the company's stock, valued at approximately $17,525,804. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 569,255 shares of company stock valued at $35,981,878 in the last three months.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC raised its position in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Rubrik in the 3rd quarter worth about $25,000. Rhumbline Advisers bought a new position in shares of Rubrik in the 4th quarter worth about $64,000. Geneos Wealth Management Inc. bought a new position in shares of Rubrik in the 4th quarter worth about $70,000. Finally, KBC Group NV bought a new position in shares of Rubrik in the 3rd quarter worth about $72,000. 49.54% of the stock is owned by institutional investors.

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.