Rubrik (NYSE:RBRK) Hits New 52-Week High – Still a Buy?

Rubrik, Inc. (NYSE:RBRK)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.00 and last traded at $78.44, with a volume of 474742 shares traded. The stock had previously closed at $77.55.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RBRK shares. Truist Financial raised their target price on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler raised their target price on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Rosenblatt Securities started coverage on shares of Rubrik in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Cantor Fitzgerald lifted their price target on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Robert W. Baird lifted their price target on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.33.

Rubrik Price Performance

The business has a 50 day simple moving average of $70.04 and a two-hundred day simple moving average of $49.23.

Insiders Place Their Bets

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $70.94, for a total transaction of $1,773,500.00. Following the transaction, the executive now owns 381,043 shares in the company, valued at approximately $27,031,190.42. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the transaction, the director now owns 153 shares in the company, valued at approximately $10,342.80. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 646,434 shares of company stock worth $42,154,951 over the last quarter.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC increased its stake in shares of Rubrik by 3.0% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after buying an additional 300 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Rubrik during the fourth quarter valued at $28,000. KBC Group NV increased its stake in shares of Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after buying an additional 430 shares during the period. Global Retirement Partners LLC grew its stake in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new position in Rubrik in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.