Rubrik (NYSE:RBRK) Hits New 12-Month High – Time to Buy?

Shares of Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high on Wednesday . The company traded as high as $53.90 and last traded at $53.87, with a volume of 415574 shares changing hands. The stock had previously closed at $50.93.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Guggenheim raised their price target on Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Truist Financial raised their price target on Rubrik from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Citigroup raised their price target on Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays lifted their price objective on Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company dropped their price objective on Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $46.71.

Rubrik Stock Up 4.2 %

The firm has a fifty day simple moving average of $41.14 and a 200 day simple moving average of $35.74.

Rubrik (NYSE:RBRK) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $195.58 million. As a group, equities research analysts forecast that Rubrik, Inc. will post -8.04 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. The trade was a 63.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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. Insiders have sold 493,112 shares of company stock valued at $17,747,746 in the last three months.

Institutional Investors Weigh In On Rubrik

Several hedge funds and other institutional investors have recently bought and sold shares of RBRK. Register Financial Advisors LLC purchased a new stake in Rubrik during the 2nd quarter worth approximately $227,000. Zweig DiMenna Associates LLC purchased a new stake in Rubrik during the 2nd quarter worth approximately $6,730,000. EFG Asset Management North America Corp. purchased a new stake in Rubrik during the 2nd quarter worth approximately $925,000. ARK Investment Management LLC purchased a new stake in Rubrik during the 2nd quarter worth approximately $6,043,000. Finally, Cisco Systems Inc. bought a new stake in shares of Rubrik in the 2nd quarter valued at approximately $5,613,000.

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.