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

Shares of Rubrik, Inc. (NYSE:RBRK - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $79.05 and last traded at $76.78, with a volume of 867746 shares changing hands. The stock had previously closed at $75.34.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RBRK. Wells Fargo & Company lifted their target price on shares of Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Truist Financial boosted their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Oppenheimer started coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a "market perform" rating for the company. Citigroup boosted their target price on shares of Rubrik from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Finally, William Blair initiated coverage on shares of Rubrik in a research report on Friday. They set a "market perform" rating for the company. Three research 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.33.

Rubrik Trading Down 4.1 %

The firm's fifty day simple moving average is $68.33 and its 200 day simple moving average is $48.25.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 10,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $44.48, for a total value of $444,800.00. Following the sale, the chief financial officer now directly owns 385,360 shares of the company's stock, valued at $17,140,812.80. This represents a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the 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 directly owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 656,434 shares of company stock valued at $42,599,751 in the last 90 days.

Institutional Trading of Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC bought a new position in Rubrik in the 3rd quarter worth about $44,418,000. Point72 Asset Management L.P. bought a new position in Rubrik in the 3rd quarter worth about $42,247,000. PointState Capital LP bought a new position in Rubrik in the 3rd quarter worth about $40,466,000. Institutional Venture Management XV LLC grew its stake in Rubrik by 3,620.4% in the 3rd 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 in the last quarter. Finally, Penserra Capital Management LLC bought a new position in Rubrik in the 3rd quarter worth about $35,359,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.