Rubrik (NYSE:RBRK) Given New $76.00 Price Target at Wells Fargo & Company

Rubrik (NYSE:RBRK) had its target price lifted by Wells Fargo & Company from $40.00 to $76.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

RBRK has been the subject of a number of other research reports. Robert W. Baird raised their price target on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler began coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price for the company. Cantor Fitzgerald upgraded Rubrik to a “strong-buy” rating in a research note on Wednesday, November 20th. Guggenheim raised their price objective on Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, KeyCorp upped their target price on Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $60.59.

Rubrik Price Performance

Rubrik stock opened at $64.54 on Friday. Rubrik has a 1-year low of $28.34 and a 1-year high of $72.66. The business has a fifty day moving average price of $42.65 and a 200-day moving average price of $36.18.

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

Insider Activity

In other news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $64.37, for a total value of $1,609,250.00. Following the sale, the executive now owns 312,545 shares in the company, valued at $20,118,521.65. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $65.78, for a total transaction of $1,973,400.00. Following the transaction, the chief financial officer now owns 342,960 shares of the company’s stock, valued at approximately $22,559,908.80. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 574,912 shares of company stock worth $22,673,114 in the last ninety days.

Institutional Investors Weigh In On Rubrik

Several institutional investors have recently bought and sold shares of the company. Diversified Trust Co purchased a new stake in shares of Rubrik during the third quarter worth $432,000. Davidson Kempner Capital Management LP acquired a new position in Rubrik during the second quarter worth about $2,606,000. Bank of Montreal Can purchased a new stake in Rubrik during the 2nd quarter valued at about $427,000. Penserra Capital Management LLC acquired a new stake in Rubrik in the 3rd quarter valued at about $35,359,000. Finally, Natixis Advisors LLC lifted its stake in Rubrik by 302.5% in the 3rd quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after purchasing an additional 40,036 shares in the last quarter.

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.