Rubrik (NYSE:RBRK) Given New $51.00 Price Target at Barclays

Rubrik (NYSE:RBRK) had its price objective lifted by Barclays from $42.00 to $51.00 in a report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

RBRK has been the topic of several other research reports. FBN Securities started coverage on shares of Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price on the stock. Truist Financial lifted their target price on shares of Rubrik from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. CIBC lifted their target price on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research report on Tuesday, September 10th. Wedbush lifted their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup lifted their price target on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $46.71.

Rubrik Stock Up 4.2 %

Shares of NYSE RBRK opened at $51.19 on Wednesday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $51.58. The firm’s 50-day simple moving average is $38.27 and its 200 day simple moving average is $34.82.

Rubrik (NYSE:RBRK) last posted its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. Sell-side analysts forecast that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Activity at Rubrik

In other news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 56,736 shares in the company, valued at $1,857,536.64. The trade was a 63.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,312 shares of company stock worth $17,657,062.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RBRK. Dragoneer Investment Group LLC purchased a new position in shares of Rubrik during the 2nd quarter valued at $47,523,000. Champlain Investment Partners LLC purchased a new position in shares of Rubrik during the 3rd quarter valued at $44,418,000. Point72 Asset Management L.P. purchased a new position in Rubrik in the third quarter worth $42,247,000. PointState Capital LP bought a new position in Rubrik in the third quarter valued at $40,466,000. Finally, Institutional Venture Management XV LLC raised its position in Rubrik by 3,620.4% during the third 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 in the last quarter.

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.