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

Rubrik, Inc. (NYSE:RBRK) reached 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 trading hands. The stock had previously closed at $77.55.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RBRK. William Blair began coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating on the stock. Guggenheim raised their price target on shares of Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird raised their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Wedbush lifted their price objective on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets lifted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Three 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 company’s stock. Based on data from MarketBeat, Rubrik has an average rating of “Moderate Buy” and an average target price of $65.33.

Rubrik Stock Up 0.8 %

The firm’s fifty day simple moving average is $69.27 and its two-hundred day simple moving average is $48.72.

Insider Buying and Selling at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $74.85, for a total value of $2,431,502.25. Following the sale, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $16,413,033.15. The trade was a 12.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $45.00, for a total transaction of $81,000.00. Following the sale, the chief financial officer now directly owns 384,560 shares in the company, valued at approximately $17,305,200. The trade was a 0.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 646,434 shares of company stock worth $42,154,951 in the last ninety days.

Institutional Investors Weigh In On Rubrik

Several large investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the 3rd quarter worth approximately $25,000. Russell Investments Group Ltd. acquired a new position in Rubrik during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC grew its holdings in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new position in Rubrik during the 4th quarter worth approximately $39,000. Finally, Rhumbline Advisers acquired a new position in Rubrik during the 4th quarter worth approximately $64,000. 49.54% of the stock is owned by hedge funds and other 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.