Rubrik (NYSE:RBRK) Given New $76.00 Price Target at Robert W. Baird

Rubrik (NYSE:RBRK) had its price target reduced by Robert W. Baird from $83.00 to $76.00 in a research note released on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Mizuho boosted their target price on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Citigroup boosted their target price on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. KeyCorp boosted their target price on Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. William Blair assumed coverage on Rubrik in a research report on Friday, February 7th. They set a “market perform” rating on the stock. Finally, Wells Fargo & Company boosted their target price on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $66.72.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $57.17 on Wednesday. The stock’s fifty day simple moving average is $68.42 and its 200 day simple moving average is $53.26. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00.

Insider Buying and Selling at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the completion of the sale, the chief technology officer now owns 219,279 shares in the company, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total value of $193,275.00. Following the sale, the director now owns 153 shares of the company’s stock, valued at approximately $11,828.43. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 625,712 shares of company stock worth $41,583,311 over the last 90 days.

Institutional Trading of Rubrik

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after acquiring an additional 3,372,323 shares in the last quarter. Norges Bank bought a new stake in shares of Rubrik during the 4th quarter worth about $277,395,000. FMR LLC lifted its position in shares of Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Rubrik by 26.6% during the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock worth $206,278,000 after purchasing an additional 662,914 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Rubrik by 27.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after purchasing an additional 427,149 shares during the last quarter. Institutional investors own 49.54% of the company’s stock.

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.