Rubrik’s (RBRK) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Rubrik (NYSE:RBRK) in a report published on Wednesday,Benzinga reports. They currently have a $76.00 target price on the stock.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald upped their price target on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Citigroup upped their price target on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. William Blair initiated coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Wells Fargo & Company increased their target price on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Oppenheimer initiated coverage on Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.56.

Rubrik Stock Up 1.0 %

Shares of RBRK stock opened at $64.96 on Wednesday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock’s 50-day moving average is $69.92 and its two-hundred day moving average is $51.58.

Insider Transactions at Rubrik

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the transaction, the director now directly owns 153 shares in the company, valued at approximately $11,828.43. The trade was a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,499 shares of Rubrik stock in a transaction dated 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 have sold 610,334 shares of company stock worth $40,413,942 in the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in Rubrik during the fourth quarter worth about $28,000. Global Retirement Partners LLC raised its stake in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. Nemes Rush Group LLC acquired a new stake in shares of Rubrik in the 4th quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik in the 4th quarter valued at about $47,000. Finally, Quarry LP acquired a new stake in shares of Rubrik in the 4th quarter valued at about $48,000. 49.54% of the stock is currently owned by institutional investors.

About Rubrik

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.