Rubrik (NYSE:RBRK) Sets New 1-Year High – Still a Buy?

Rubrik, Inc. (NYSE:RBRK) reached a new 52-week high during trading on Thursday . The company traded as high as $76.21 and last traded at $74.33, with a volume of 375363 shares changing hands. The stock had previously closed at $74.11.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RBRK. Robert W. Baird increased their price objective on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Wedbush increased their target price on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Oppenheimer began coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. KeyCorp upped their price objective on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Guggenheim lifted their target price on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.67.

Rubrik Stock Performance

The company has a 50 day simple moving average of $65.39 and a two-hundred day simple moving average of $46.40.

Insider Activity at Rubrik

In other news, CRO Brian K. Mccarthy sold 28,485 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total transaction of $2,060,604.90. Following the sale, the executive now owns 346,560 shares of the company’s stock, valued at $25,070,150.40. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $43.15, for a total transaction of $77,670.00. Following the transaction, the chief financial officer now directly owns 406,160 shares of the company’s stock, valued at approximately $17,525,804. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 569,255 shares of company stock worth $35,981,878 over the last quarter.

Institutional Trading of Rubrik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC boosted its stake in shares of Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after acquiring an additional 300 shares in the last quarter. KBC Group NV raised its holdings in Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after purchasing an additional 430 shares during the period. Global Retirement Partners LLC boosted its position in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Rubrik in the third quarter valued at approximately $25,000. Finally, Hamilton Lane Advisors LLC increased its position in shares of Rubrik by 3.0% in the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock valued at $2,224,000 after buying an additional 980 shares in the last quarter. Institutional investors and hedge funds 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.