Rubrik (NYSE:RBRK) Stock Price Up 6.1% - Time to Buy?

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price was up 6.1% during mid-day trading on Tuesday . The stock traded as high as $74.50 and last traded at $73.24. Approximately 538,328 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,229,949 shares. The stock had previously closed at $69.01.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RBRK shares. Oppenheimer started coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a "market perform" rating for the company. Mizuho raised their target price on shares of Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Cantor Fitzgerald raised their target price on shares of Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Rosenblatt Securities started coverage on shares of Rubrik in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 target price for the company. Finally, BMO Capital Markets lifted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $64.67.

Rubrik Trading Up 6.4 %

The business's 50-day simple moving average is $63.28 and its 200 day simple moving average is $45.45.

Insider Transactions at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the transaction, the director now owns 153 shares of the company's stock, valued at $10,342.80. The trade was a 94.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 4,500 shares of Rubrik stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $41.99, for a total transaction of $188,955.00. Following the completion of the transaction, the chief financial officer now directly owns 417,760 shares in the company, valued at approximately $17,541,742.40. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 598,755 shares of company stock valued at $37,205,583 in the last 90 days.

Institutional Trading of Rubrik

A number of institutional investors have recently bought and sold shares of RBRK. Champlain Investment Partners LLC acquired a new stake in Rubrik in the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. acquired a new stake in Rubrik in the 3rd quarter worth approximately $42,247,000. PointState Capital LP acquired a new stake in Rubrik during the 3rd quarter valued at approximately $40,466,000. Institutional Venture Management XV LLC lifted its stake in Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company's stock valued at $37,378,000 after acquiring an additional 1,131,360 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in Rubrik during the 3rd quarter valued at approximately $35,359,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.

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