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

Rubrik, Inc. (NYSE:RBRK)’s stock price reached a new 52-week high on Monday . The stock traded as high as $75.29 and last traded at $75.22, with a volume of 2041492 shares trading hands. The stock had previously closed at $72.18.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RBRK shares. Oppenheimer started coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Barclays boosted their price target on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. CIBC increased their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research report on Tuesday, September 10th. KeyCorp boosted their target price on shares of Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Citigroup lifted their price target on shares of Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.50.

Rubrik Stock Performance

The business’s 50-day moving average is $48.80 and its two-hundred day moving average is $38.36.

Insider Activity

In other news, CRO Brian K. Mccarthy sold 104,672 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the transaction, the executive now directly owns 462,545 shares in the company, valued at $14,486,909.40. This trade represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the transaction, the chief financial officer now owns 493,360 shares in the company, valued at $15,496,437.60. This represents a 9.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 560,779 shares of company stock valued at $22,317,557.

Hedge Funds Weigh In On Rubrik

Hedge funds have recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the third quarter worth about $25,000. KBC Group NV bought a new stake in shares of Rubrik during the 3rd quarter worth $72,000. Quent Capital LLC acquired a new position in shares of Rubrik in the 3rd quarter worth $192,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Rubrik during the third quarter worth $208,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Rubrik during the third quarter valued at $243,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.