Oppenheimer Initiates Coverage on Rubrik (NYSE:RBRK)

Investment analysts at Oppenheimer assumed coverage on shares of Rubrik (NYSE:RBRK - Get Free Report) in a note issued to investors on Wednesday, MarketBeat reports. The firm set a "market perform" rating on the stock.

RBRK has been the subject of a number of other research reports. Wells Fargo & Company dropped their price objective on Rubrik from $42.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, September 10th. Piper Sandler initiated coverage on shares of Rubrik in a report on Monday, August 19th. They set an "overweight" rating and a $42.00 price objective for the company. Citigroup boosted their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Wedbush raised their target price on shares of Rubrik from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Finally, Truist Financial reiterated a "buy" rating and issued a $43.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $45.00.

Rubrik Trading Up 0.4 %

Shares of NYSE:RBRK traded up $0.17 during mid-day trading on Wednesday, reaching $44.98. 1,117,529 shares of the company traded hands, compared to its average volume of 1,491,530. The company's 50 day moving average price is $36.44 and its 200-day moving average price is $34.27. Rubrik has a 52 week low of $28.34 and a 52 week high of $45.90.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share 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 analyst estimates of $195.58 million. As a group, equities research analysts expect that Rubrik will post -7.94 EPS for the current year.

Insider Buying and Selling at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now owns 56,736 shares of the company's stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 444,512 shares of company stock valued at $15,368,662.

Institutional Trading of Rubrik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik in the third quarter worth about $25,000. KBC Group NV acquired a new position in Rubrik in the 3rd quarter worth approximately $72,000. Quent Capital LLC purchased a new position in Rubrik during the 3rd quarter worth approximately $192,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at $208,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Rubrik in the 2nd quarter valued at $227,000.

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.