Rosenblatt Securities Initiates Coverage on Rubrik (NYSE:RBRK)

Analysts at Rosenblatt Securities initiated coverage on shares of Rubrik (NYSE:RBRK) in a note issued to investors on Tuesday. The firm set a “neutral” rating and a $77.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 1.97% from the company’s previous close.

A number of other equities analysts also recently issued reports on RBRK. Mizuho increased their price objective on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday. CIBC lifted their price objective on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Wells Fargo & Company upped their price objective on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Robert W. Baird lifted their price target on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Finally, Citigroup raised their target price on shares of Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $63.50.

Rubrik Trading Up 4.6 %

NYSE:RBRK opened at $75.51 on Tuesday. The firm’s fifty day simple moving average is $47.40 and its 200 day simple moving average is $37.86. Rubrik has a twelve month low of $28.34 and a twelve month high of $75.79.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $69.70, for a total value of $125,460.00. Following the transaction, the chief financial officer now directly owns 342,160 shares in the company, valued at $23,848,552. This represents a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 560,779 shares of company stock valued at $22,317,557.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently bought and sold shares of RBRK. Garden State Investment Advisory Services LLC purchased a new stake in Rubrik during the third quarter valued at approximately $394,000. Barclays PLC boosted its position in Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after buying an additional 7,029 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Rubrik by 133.3% in the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock worth $18,290,000 after acquiring an additional 324,951 shares during the period. XTX Topco Ltd purchased a new position in shares of Rubrik during the 3rd quarter valued at about $571,000. Finally, State Street Corp lifted its holdings in Rubrik by 368.9% in the third quarter. State Street Corp now owns 421,096 shares of the company’s stock valued at $13,538,000 after acquiring an additional 331,296 shares during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.