Rubrik (NYSE:RBRK) Sets New 12-Month High - Time to Buy?

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $80.00 and last traded at $78.44, with a volume of 474742 shares. The stock had previously closed at $77.55.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RBRK shares. Cantor Fitzgerald lifted their price target on Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. BMO Capital Markets increased their price target on shares of Rubrik from $38.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Barclays boosted their price objective on shares of Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. KeyCorp increased their target price on Rubrik from $75.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Finally, Rosenblatt Securities assumed coverage on Rubrik in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target for the company. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $65.33.

Rubrik Price Performance

The business has a 50-day simple moving average of $70.04 and a 200 day simple moving average of $49.40.

Insiders Place Their Bets

In related news, CTO Arvind Nithrakashyap sold 32,485 shares of Rubrik stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the sale, the chief technology officer now owns 219,279 shares of the company's stock, valued at approximately $16,413,033.15. This trade represents a 12.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $70.94, for a total value of $1,773,500.00. Following the completion of the transaction, the executive now owns 381,043 shares of the company's stock, valued at $27,031,190.42. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,434 shares of company stock worth $42,154,951.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. ProShare Advisors LLC purchased a new stake in Rubrik in the 4th quarter worth $398,000. OMERS ADMINISTRATION Corp lifted its position in shares of Rubrik by 29.8% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 14,800 shares of the company's stock worth $967,000 after buying an additional 3,400 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in Rubrik during the fourth quarter valued at approximately $1,307,000. Lazard Asset Management LLC grew its holdings in Rubrik by 6,985.9% during the 4th quarter. Lazard Asset Management LLC now owns 5,031 shares of the company's stock valued at $327,000 after buying an additional 4,960 shares in the last quarter. Finally, LMR Partners LLP increased its stake in Rubrik by 726.5% in the 4th quarter. LMR Partners LLP now owns 245,098 shares of the company's stock worth $16,020,000 after acquiring an additional 215,442 shares during the last quarter. Institutional investors own 49.54% of the company's stock.

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.