Rubrik (NYSE:RBRK) Sees Large Volume Increase on Analyst Upgrade

Rubrik, Inc. (NYSE:RBRK - Get Free Report) shares saw strong trading volume on Friday after Guggenheim raised their price target on the stock from $76.00 to $80.00. Guggenheim currently has a buy rating on the stock. 2,422,237 shares were traded during mid-day trading, an increase of 28% from the previous session's volume of 1,891,406 shares.The stock last traded at $69.86 and had previously closed at $55.28.

A number of other research analysts also recently weighed in on the company. Robert W. Baird dropped their price target on Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Mizuho upped their price target on Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday. Barclays increased their price objective on Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Rosenblatt Securities raised Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 target price for the company in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Rubrik currently has a consensus rating of "Buy" and a consensus price target of $70.00.

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Insider Buying and Selling at Rubrik

In related news, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now owns 153 shares of the company's stock, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the completion of the transaction, the chief financial officer now directly owns 343,774 shares of the company's stock, valued at approximately $23,386,945.22. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 618,254 shares of company stock valued at $40,985,299 in the last 90 days.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik during the fourth quarter worth $28,000. Global Retirement Partners LLC lifted its position in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares during the period. Nemes Rush Group LLC acquired a new position in Rubrik during the fourth quarter valued at $39,000. Point72 Hong Kong Ltd acquired a new position in Rubrik during the fourth quarter valued at $47,000. Finally, Quarry LP acquired a new position in Rubrik during the fourth quarter valued at $48,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Stock Down 1.2 %

The company has a market capitalization of $12.97 billion and a price-to-earnings ratio of -5.08. The business's 50-day moving average is $68.32 and its 200-day moving average is $54.04.

Rubrik (NYSE:RBRK - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same period in the prior year, the company earned ($1.59) earnings per share. The firm's quarterly revenue was up 47.5% on a year-over-year basis. As a group, analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

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.