Rubrik (NYSE:RBRK) Trading Up 4.2% - Here's Why

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s stock price traded up 4.2% during trading on Tuesday . The stock traded as high as $62.79 and last traded at $62.55. 278,031 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 2,040,461 shares. The stock had previously closed at $60.05.

Analyst Upgrades and Downgrades

RBRK has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Rosenblatt Securities upgraded Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target on the stock in a report on Wednesday, March 12th. William Blair started coverage on Rubrik in a research report on Friday, February 7th. They set a "market perform" rating on the stock. BMO Capital Markets raised their price objective on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Finally, KeyCorp dropped their target price on Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $68.83.

Rubrik Price Performance

The business has a 50 day moving average price of $64.37 and a 200 day moving average price of $59.00. The firm has a market capitalization of $11.67 billion and a P/E ratio of -4.46.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. The company's revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the company earned ($1.59) earnings per share. As a group, equities analysts expect that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Activity at Rubrik

In other news, CFO Kiran Kumar Choudary sold 2,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total transaction of $124,060.00. Following the completion of the transaction, the chief financial officer now directly owns 614,798 shares of the company's stock, valued at approximately $38,135,919.94. This trade represents a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total transaction of $832,154.74. Following the completion of the sale, the insider now directly owns 21,221 shares in the company, valued at approximately $1,336,498.58. The trade was a 38.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 515,619 shares of company stock worth $34,167,897.

Institutional Investors Weigh In On Rubrik

Several large investors have recently modified their holdings of RBRK. Russell Investments Group Ltd. acquired a new stake in Rubrik in the 4th quarter valued at $28,000. Global Retirement Partners LLC raised its stake in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Nemes Rush Group LLC bought a new position in shares of Rubrik during the fourth quarter valued at $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik in the 4th quarter valued at $47,000. Finally, Quarry LP bought a new stake in shares of Rubrik in the 4th quarter worth about $48,000. 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.