Rubrik (NYSE:RBRK) Stock Price Up 6.1% – Time to Buy?

Shares of Rubrik, Inc. (NYSE:RBRK) were up 6.1% during mid-day trading on Tuesday . The company traded as high as $74.50 and last traded at $73.24. Approximately 538,328 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,229,949 shares. The stock had previously closed at $69.01.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price objective on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Mizuho upped their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. BMO Capital Markets lifted their price objective on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. KeyCorp raised their price objective on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Oppenheimer initiated coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Two equities research 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 company. According to data from MarketBeat.com, Rubrik has a consensus rating of “Buy” and an average price target of $64.67.

Rubrik Trading Down 0.1 %

The company has a fifty day moving average price of $64.44 and a 200 day moving average price of $45.93.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $43.15, for a total value of $77,670.00. Following the sale, the chief financial officer now owns 406,160 shares in the company, valued at $17,525,804. This represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares of the company’s stock, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 594,255 shares of company stock worth $37,016,628 in the last quarter.

Institutional Investors Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC acquired a new stake in Rubrik during the 3rd quarter worth about $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the 3rd quarter worth about $42,247,000. PointState Capital LP acquired a new stake in shares of Rubrik during the 3rd quarter valued at about $40,466,000. Institutional Venture Management XV LLC increased its stake in shares of Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Rubrik in the 3rd quarter worth about $35,359,000. 49.54% of the stock is currently 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.