Rubrik (NYSE:RBRK) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities assumed coverage on shares of Rubrik (NYSE:RBRK) in a research report issued on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $77.00 price target on the stock. Rosenblatt Securities’ target price points to a potential upside of 13.15% from the company’s current price.

A number of other equities research analysts have also recently commented on RBRK. KeyCorp lifted their target price on Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Cantor Fitzgerald lifted their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Barclays increased their target price on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Mizuho raised their price target on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Wedbush upped their price objective on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $63.50.

Rubrik Trading Down 6.7 %

Shares of Rubrik stock opened at $68.05 on Tuesday. The business’s fifty day simple moving average is $48.80 and its 200 day simple moving average is $38.36. Rubrik has a 12 month low of $28.34 and a 12 month high of $75.79.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 51,924 shares of the company’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 value of $1,630,932.84. Following the transaction, the chief financial officer now directly owns 493,360 shares in the company, valued at approximately $15,496,437.60. This represents a 9.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Brian K. Mccarthy sold 104,672 shares of Rubrik stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the sale, the executive now owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 460,779 shares of company stock valued at $19,043,557 in the last three months.

Institutional Investors Weigh In On Rubrik

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in Rubrik by 6.9% in the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock worth $11,595,000 after buying an additional 23,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Rubrik during the third quarter worth approximately $323,000. Diversified Trust Co bought a new stake in shares of Rubrik in the 3rd quarter worth approximately $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rubrik by 24.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock valued at $7,998,000 after purchasing an additional 49,372 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new position in shares of Rubrik during the 2nd quarter valued at $2,606,000. Institutional investors own 49.54% of the company’s stock.

About Rubrik

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.