Rubrik (NYSE:RBRK) Shares Up 6.1% - Should You Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RBRK shares. Mizuho upped 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. Guggenheim lifted their price target on shares of Rubrik from $52.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Robert W. Baird increased their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, December 5th. Oppenheimer started coverage on Rubrik in a research note on Wednesday, November 13th. They set a "market perform" rating on the stock. Finally, Piper Sandler increased their target price on shares of Rubrik from $72.00 to $83.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. 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.com, the company has a consensus rating of "Buy" and a consensus price target of $64.67.

Rubrik Stock Down 3.4 %

The firm has a fifty day simple moving average of $65.79 and a 200 day simple moving average of $46.83.

Insider Buying and Selling at Rubrik

In related news, Director Yvonne Wassenaar sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now owns 153 shares of the company's stock, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $43.15, for a total transaction of $77,670.00. Following the completion of the transaction, the chief financial officer now directly owns 406,160 shares in the company, valued at approximately $17,525,804. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,255 shares of company stock valued at $35,981,878 in the last three months.

Institutional Investors Weigh In On Rubrik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBRK. Janus Henderson Group PLC grew its holdings in Rubrik by 6.9% during the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company's stock worth $11,595,000 after purchasing an additional 23,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rubrik in the 3rd quarter worth approximately $323,000. Diversified Trust Co bought a new stake in Rubrik in the third quarter worth approximately $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Rubrik by 24.8% during 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, Bank of Montreal Can acquired a new stake in shares of Rubrik in the 2nd quarter worth about $427,000. Institutional investors and hedge funds own 49.54% of the company's stock.

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.