KeyCorp Has Lowered Expectations for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its price objective cut by KeyCorp from $87.00 to $82.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Rubrik from $83.00 to $87.00 and gave the company an “overweight” rating in a report on Friday. Citigroup lifted their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wedbush lifted their price objective on shares of Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird dropped their price objective on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Rubrik in a report on Friday. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $69.78.

Rubrik Price Performance

Rubrik stock opened at $70.54 on Friday. The company’s 50 day simple moving average is $68.20 and its 200-day simple moving average is $53.27. Rubrik has a 1 year low of $28.34 and a 1 year high of $80.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. The business’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.59) earnings per share. Analysts predict that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the completion of the sale, the chief financial officer now owns 343,774 shares in the company, valued at approximately $23,386,945.22. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the sale, the director now owns 153 shares of the company’s stock, valued at $10,342.80. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 625,712 shares of company stock worth $41,583,311.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in Rubrik by 6.9% in the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after purchasing an additional 23,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rubrik in the 3rd quarter valued at $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rubrik by 24.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock valued at $7,998,000 after purchasing an additional 49,372 shares during the last quarter. Renaissance Capital LLC raised its position in Rubrik by 21.2% in the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock valued at $4,757,000 after purchasing an additional 12,714 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Rubrik in the 3rd quarter valued at $336,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.