Rubrik (NYSE:RBRK) Upgraded to "Buy" at Rosenblatt Securities

Rubrik (NYSE:RBRK - Get Free Report) was upgraded by investment analysts at Rosenblatt Securities from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $77.00 price target on the stock. Rosenblatt Securities' price objective indicates a potential upside of 42.54% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Mizuho boosted their price target on shares of Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. KeyCorp boosted their price target on shares of Rubrik from $75.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Guggenheim reaffirmed a "buy" rating and set a $76.00 target price on shares of Rubrik in a research note on Wednesday, February 26th. Robert W. Baird lifted their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, December 5th. Finally, Cantor Fitzgerald lifted their target price on shares of Rubrik from $58.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $65.56.

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Rubrik Stock Up 4.2 %

NYSE:RBRK opened at $54.02 on Wednesday. The company has a 50 day moving average price of $68.59 and a 200-day moving average price of $53.23. Rubrik has a 1-year low of $28.34 and a 1-year high of $80.00.

Insider Buying and Selling

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction 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 owns 343,774 shares in the company, valued at approximately $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 can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. Insiders sold a total of 625,712 shares of company stock valued at $41,583,311 over the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. PharVision Advisers LLC purchased a new position in shares of Rubrik in the fourth quarter valued at $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Rubrik by 168.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company's stock valued at $43,610,000 after buying an additional 418,457 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Rubrik in the fourth quarter valued at $85,331,000. Washington Harbour Partners LP purchased a new position in shares of Rubrik in the fourth quarter valued at $4,235,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Rubrik in the fourth quarter valued at $18,693,000. Hedge funds and other institutional investors 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.

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