Mizuho Forecasts Strong Price Appreciation for Rubrik (NYSE:RBRK) Stock

Rubrik (NYSE:RBRK) had its target price hoisted by analysts at Mizuho from $75.00 to $82.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 20.50% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wedbush upped their price objective on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Piper Sandler reiterated an “overweight” rating and set a $72.00 price target (up previously from $42.00) on shares of Rubrik in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial upped their target price on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Cantor Fitzgerald boosted their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $63.50.

Rubrik Trading Down 6.7 %

Shares of Rubrik stock opened at $68.05 on Tuesday. Rubrik has a 52 week low of $28.34 and a 52 week high of $75.79. The company’s 50-day moving average price is $48.80 and its two-hundred day moving average price is $38.36.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $64.37, for a total transaction of $1,609,250.00. Following the completion of the transaction, the executive now owns 312,545 shares in the company, valued at $20,118,521.65. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $39.40, for a total value of $59,100.00. Following the completion of the sale, the chief financial officer now owns 423,060 shares in the company, valued at $16,668,564. This trade represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 460,779 shares of company stock worth $19,043,557.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently modified their holdings of RBRK. Dragoneer Investment Group LLC acquired a new stake in shares of Rubrik in the second quarter valued at approximately $47,523,000. Champlain Investment Partners LLC bought a new position in Rubrik in the third quarter valued at about $44,418,000. Point72 Asset Management L.P. bought a new stake in Rubrik during the 3rd quarter worth about $42,247,000. PointState Capital LP acquired a new position in Rubrik during the 3rd quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC boosted 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 during the last quarter. 49.54% of the stock is owned by 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.