Rubrik, Inc. (NYSE:RBRK - Get Free Report) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 8,820,000 shares, a growth of 75.0% from the December 15th total of 5,040,000 shares. Based on an average daily volume of 2,450,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 12.2% of the company's stock are sold short.
Rubrik Stock Performance
Shares of RBRK traded up $1.66 during mid-day trading on Wednesday, reaching $66.75. The stock had a trading volume of 2,526,072 shares, compared to its average volume of 2,429,147. Rubrik has a 12 month low of $28.34 and a 12 month high of $75.79. The business has a fifty day moving average of $58.77 and a 200 day moving average of $43.06.
Analysts Set New Price Targets
Several research firms have recently issued reports on RBRK. Barclays lifted their price target on Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Wells Fargo & Company upped their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Truist Financial raised their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, December 6th. FBN Securities assumed coverage on Rubrik in a research report on Monday, September 30th. They issued an "outperform" rating and a $40.00 price objective on the stock. Finally, Oppenheimer began coverage on Rubrik in a report on Wednesday, November 13th. They issued a "market perform" rating for the company. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $64.11.
Check Out Our Latest Stock Analysis on RBRK
Insider Activity at Rubrik
In other news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the completion of the transaction, the executive now directly owns 362,545 shares in the company, valued at approximately $18,265,017.10. This trade represents a 6.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the completion of the sale, the chief financial officer now owns 423,060 shares in the company, valued at $16,668,564. The trade was a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 401,742 shares of company stock worth $23,523,146 over the last ninety days.
Institutional Investors Weigh In On Rubrik
Institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik during the third quarter worth about $25,000. KBC Group NV bought a new position in Rubrik in the 3rd quarter worth approximately $72,000. Quent Capital LLC purchased a new stake in Rubrik during the 3rd quarter valued at approximately $192,000. Shikiar Asset Management Inc. bought a new stake in shares of Rubrik during the fourth quarter valued at approximately $203,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik in the third quarter worth $208,000. Hedge funds and other institutional investors own 49.54% of the company's stock.
About Rubrik
(
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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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