Rubrik (NYSE:RBRK) Hits New 52-Week High – Here’s What Happened

Rubrik, Inc. (NYSE:RBRK) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.13 and last traded at $43.31, with a volume of 248454 shares traded. The stock had previously closed at $41.55.

Analysts Set New Price Targets

Several analysts have issued reports on RBRK shares. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 price target on shares of Rubrik in a research report on Tuesday, September 10th. BMO Capital Markets decreased their price target on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Baird R W upgraded shares of Rubrik to a “strong-buy” rating in a research report on Monday, July 15th. Robert W. Baird lifted their target price on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Wedbush lifted their target price on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Sixteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $45.00.

Rubrik Trading Up 4.2 %

The firm has a 50 day moving average price of $35.42.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. On average, equities analysts predict that Rubrik, Inc. will post -7.94 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the sale, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 420,912 shares of company stock worth $14,386,330 in the last quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. KBC Group NV acquired a new position in Rubrik during the third quarter valued at approximately $72,000. Quent Capital LLC acquired a new position in shares of Rubrik in the third quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik in the third quarter valued at approximately $208,000. Register Financial Advisors LLC acquired a new position in shares of Rubrik in the second quarter valued at approximately $227,000. Finally, Sei Investments Co. acquired a new position in shares of Rubrik in the second quarter valued at approximately $235,000.

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.