Rubrik (NYSE:RBRK) Shares Gap Up - Should You Buy?

Rubrik, Inc. (NYSE:RBRK - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $53.82, but opened at $59.39. Rubrik shares last traded at $57.34, with a volume of 369,079 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets upped their price target on Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company upped their price target on Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday. Piper Sandler upped their price target on Rubrik from $83.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday. Truist Financial boosted their price objective on Rubrik from $50.00 to $75.00 and gave the company a "buy" 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 price objective on the stock in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $70.00.

Rubrik Stock Performance

The business has a 50 day moving average of $68.32 and a two-hundred day moving average of $54.04. The firm has a market capitalization of $12.97 billion and a price-to-earnings ratio of -5.08.

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

Insiders Place Their Bets

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of the company's stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $68.03, for a total value 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 $23,386,945.22. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the completion of the transaction, the director now directly owns 153 shares of the company's stock, valued at approximately $11,828.43. This represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 618,254 shares of company stock valued at $40,985,299.

Hedge Funds Weigh In On Rubrik

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Rubrik by 114.1% during the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after purchasing an additional 3,372,323 shares during the period. Norges Bank bought a new position in Rubrik during the fourth quarter valued at $277,395,000. FMR LLC grew its holdings in Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after purchasing an additional 2,065,444 shares during the period. First Trust Advisors LP grew its holdings in Rubrik by 26.6% during the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock valued at $206,278,000 after purchasing an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Rubrik by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock valued at $129,359,000 after purchasing an additional 427,149 shares during the period. 49.54% of the stock is owned by institutional investors.

Rubrik Company Profile

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.