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

Rubrik, Inc. (NYSE:RBRK) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.38 and last traded at $41.24, with a volume of 91753 shares trading hands. The stock had previously closed at $40.58.

Analyst Ratings Changes

A number of research firms recently commented on RBRK. Robert W. Baird started coverage on shares of Rubrik in a report on Monday, July 15th. They set an “outperform” rating and a $42.00 price objective on the stock. Baird R W raised Rubrik to a “strong-buy” rating in a research note on Monday, July 15th. CIBC raised their price objective on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. FBN Securities began coverage on Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a report on Tuesday, September 10th. Sixteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $44.65.

Rubrik Trading Down 0.0 %

The firm has a fifty day moving average price of $34.95.

Rubrik (NYSE:RBRK) last released 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. Analysts expect that Rubrik, Inc. will post -7.94 EPS for the current fiscal year.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the transaction, the chief financial officer now directly owns 423,060 shares in the company, valued at approximately $16,668,564. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the executive now directly owns 412,545 shares of the company’s stock, valued at $16,501,800. 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 at this link. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now owns 423,060 shares of the company’s stock, valued at approximately $16,668,564. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 391,412 shares of company stock valued at $13,162,625 over the last quarter.

Institutional Investors Weigh In On Rubrik

Institutional investors have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC purchased a new position in shares of Rubrik in the 2nd quarter worth about $47,523,000. Clearbridge Investments LLC purchased a new position in Rubrik in the second quarter valued at approximately $32,888,000. EPIQ Capital Group LLC acquired a new position in Rubrik during the second quarter valued at approximately $15,111,000. SG Americas Securities LLC purchased a new stake in Rubrik during the third quarter worth approximately $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Rubrik during the second quarter worth approximately $7,665,000.

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.