Rubrik (NYSE:RBRK) Sets New 12-Month High – Here’s Why

Shares of Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high on Friday . The company traded as high as $79.05 and last traded at $76.78, with a volume of 867746 shares traded. The stock had previously closed at $75.34.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Oppenheimer initiated coverage on shares of Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. Truist Financial increased their price objective on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Cantor Fitzgerald increased their price target on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Robert W. Baird boosted their price target on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Piper Sandler boosted their target price on shares of Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Three 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, Rubrik presently has an average rating of “Moderate Buy” and an average target price of $64.67.

Rubrik Price Performance

The business’s fifty day moving average is $67.31 and its two-hundred day moving average is $47.50.

Insider Activity

In related news, CTO Arvind Nithrakashyap sold 32,499 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 2,670 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $45.07, for a total value of $120,336.90. Following the sale, the chief financial officer now owns 396,160 shares in the company, valued at $17,854,931.20. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 659,104 shares of company stock worth $42,720,088.

Institutional Trading of Rubrik

Several hedge funds and other institutional investors have recently bought and sold shares of RBRK. Brown Brothers Harriman & Co. purchased a new position in Rubrik during the third quarter valued at $25,000. Global Retirement Partners LLC grew its holdings in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the period. Rhumbline Advisers acquired a new stake in shares of Rubrik during the fourth quarter valued at about $64,000. Geneos Wealth Management Inc. acquired a new stake in shares of Rubrik in the fourth quarter valued at $70,000. Finally, KBC Group NV purchased a new position in shares of Rubrik in the third quarter valued at approximately $72,000. 49.54% of the stock is owned by institutional investors and hedge funds.

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.