KeyCorp Increases Rubrik (NYSE:RBRK) Price Target to $57.00

Rubrik (NYSE:RBRK) had its price objective raised by KeyCorp from $48.00 to $57.00 in a research note published on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Oppenheimer started coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Guggenheim raised their price target on shares of Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Sandler started coverage on shares of Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 price target for the company. Barclays raised their price target on shares of Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wedbush lifted their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.71.

Rubrik Trading Up 4.2 %

Shares of NYSE RBRK opened at $51.19 on Friday. The company has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $34.82. Rubrik has a 1 year low of $28.34 and a 1 year high of $51.58.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. As a group, research analysts expect that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the sale, the chief financial officer now directly owns 423,060 shares in the company, valued at $16,668,564. This represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the sale, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,312 shares of company stock worth $17,657,062 over the last ninety days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RBRK. Dragoneer Investment Group LLC purchased a new position in shares of Rubrik during the second quarter worth about $47,523,000. Champlain Investment Partners LLC purchased a new position in shares of Rubrik during the third quarter worth about $44,418,000. Point72 Asset Management L.P. purchased a new position in shares of Rubrik during the third quarter worth about $42,247,000. PointState Capital LP purchased a new position in shares of Rubrik during the third quarter worth about $40,466,000. Finally, Institutional Venture Management XV LLC grew its holdings in shares of Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after purchasing an additional 1,131,360 shares in the last quarter.

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.