Barclays Increases Rubrik (NYSE:RBRK) Price Target to $51.00

Rubrik (NYSE:RBRK - Get Free Report) had its target price boosted by investment analysts at Barclays from $42.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 12.93% from the company's previous close.

Several other analysts also recently weighed in on RBRK. BMO Capital Markets decreased their price target on shares of Rubrik from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, September 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $50.00 price objective on shares of Rubrik in a report on Tuesday, September 10th. FBN Securities initiated coverage on shares of Rubrik in a report on Monday, September 30th. They set an "outperform" rating and a $40.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Rubrik from $42.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, September 10th. Finally, Guggenheim boosted their price objective on shares of Rubrik from $48.00 to $52.00 and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $46.18.

Rubrik Price Performance

RBRK traded up $0.95 during midday trading on Wednesday, hitting $45.16. 923,881 shares of the company traded hands, compared to its average volume of 1,475,837. Rubrik has a 52 week low of $28.34 and a 52 week high of $45.90. The company's 50-day moving average is $37.66 and its 200 day moving average is $34.65.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $204.95 million during the quarter, compared to analysts' expectations of $195.58 million. As a group, analysts predict that Rubrik will post -8.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $44.48, for a total transaction of $444,800.00. Following the completion of the transaction, the chief financial officer now owns 385,360 shares of the company's stock, valued at approximately $17,140,812.80. This trade represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 454,512 shares of company stock worth $15,813,462 in the last 90 days.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company's stock valued at $386,000 after acquiring an additional 7,029 shares during the last quarter. Geode Capital Management LLC raised its stake in Rubrik by 133.3% during the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company's stock worth $18,290,000 after purchasing an additional 324,951 shares during the period. XTX Topco Ltd purchased a new stake in shares of Rubrik in the 3rd quarter valued at approximately $571,000. State Street Corp increased its holdings in shares of Rubrik by 368.9% during the 3rd quarter. State Street Corp now owns 421,096 shares of the company's stock worth $13,538,000 after buying an additional 331,296 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Rubrik by 407.7% during the 3rd quarter. Stifel Financial Corp now owns 68,566 shares of the company's stock valued at $2,204,000 after buying an additional 55,062 shares during the period.

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.