Rubrik (NYSE:RBRK) Shares Gap Up After Analyst Upgrade

Rubrik, Inc. (NYSE:RBRK) shares gapped up before the market opened on Friday after Wells Fargo & Company raised their price target on the stock from $40.00 to $76.00. The stock had previously closed at $53.66, but opened at $65.68. Wells Fargo & Company currently has an overweight rating on the stock. Rubrik shares last traded at $68.51, with a volume of 4,657,815 shares traded.

RBRK has been the topic of a number of other research reports. Guggenheim raised their target price on Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Citigroup raised their target price on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. FBN Securities started coverage on Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective on the stock. Cantor Fitzgerald upgraded Rubrik to a “strong-buy” rating in a report on Wednesday, November 20th. Finally, Truist Financial lifted their price objective on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $55.53.

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive now owns 337,545 shares of the company’s stock, valued at $16,877,250. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Insiders sold 518,112 shares of company stock valued at $18,997,746 over the last 90 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RBRK. Dragoneer Investment Group LLC bought a new position in shares of Rubrik in the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC bought a new stake in Rubrik during the third quarter worth $44,418,000. Point72 Asset Management L.P. bought a new stake in Rubrik during the third quarter worth $42,247,000. PointState Capital LP bought a new stake in Rubrik during the third quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC lifted its holdings in 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 acquiring an additional 1,131,360 shares during the period.

Rubrik Trading Up 27.7 %

The stock has a fifty day moving average of $42.00 and a 200 day moving average of $35.98.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. On average, analysts anticipate that Rubrik, Inc. will post -8.04 EPS for the current fiscal year.

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.