Rubrik (NYSE:RBRK) Stock Price Up 4.1% - Should You Buy?

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s stock price was up 4.1% during mid-day trading on Monday . The stock traded as high as $71.30 and last traded at $71.13. Approximately 2,187,910 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 1,785,176 shares. The stock had previously closed at $68.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Rubrik from $40.00 to $76.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Robert W. Baird upped their price target on Rubrik from $48.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. FBN Securities assumed coverage on shares of Rubrik in a research note on Monday, September 30th. They set an "outperform" rating and a $40.00 price objective on the stock. KeyCorp boosted their price objective on shares of Rubrik from $57.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Finally, Rosenblatt Securities began coverage on shares of Rubrik in a report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 target price on the stock. Two equities research 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, Rubrik has a consensus rating of "Buy" and a consensus target price of $64.11.

Rubrik Trading Down 0.1 %

The business has a 50-day simple moving average of $52.77 and a two-hundred day simple moving average of $40.11.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 3,973 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the transaction, the chief financial officer now owns 345,374 shares in the company, valued at approximately $24,984,355.16. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Brian K. Mccarthy sold 28,485 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total transaction of $2,060,604.90. Following the completion of the transaction, the executive now directly owns 346,560 shares in the company, valued at approximately $25,070,150.40. This represents a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 338,441 shares of company stock valued at $16,604,762.

Institutional Trading of Rubrik

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in Rubrik by 6.9% during the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company's stock worth $11,595,000 after buying an additional 23,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rubrik during the third quarter worth about $323,000. Diversified Trust Co bought a new position in Rubrik during the third quarter worth about $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rubrik by 24.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company's stock worth $7,998,000 after purchasing an additional 49,372 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new stake in Rubrik in the 2nd quarter valued at about $2,606,000. 49.54% of the stock is currently 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.