Rubrik (NYSE:RBRK) Hits New 52-Week High – Still a Buy?

Rubrik, Inc. (NYSE:RBRK) reached a new 52-week high on Thursday . The company traded as high as $80.00 and last traded at $78.44, with a volume of 474742 shares trading hands. The stock had previously closed at $77.55.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Guggenheim upped their target price on shares of Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, December 6th. BMO Capital Markets upped their target price on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Oppenheimer initiated coverage on shares of Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Finally, Robert W. Baird upped their price objective on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.33.

Rubrik Stock Down 1.4 %

The firm’s fifty day simple moving average is $70.04 and its 200 day simple moving average is $49.23.

Insider Activity at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,499 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $67.66, for a total transaction of $2,198,882.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the completion of the transaction, the executive now owns 362,545 shares in the company, valued at $18,265,017.10. This trade represents a 6.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 646,434 shares of company stock valued at $42,154,951.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC grew its stake in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after acquiring an additional 300 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Rubrik during the fourth quarter valued at about $28,000. KBC Group NV lifted its holdings in Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after purchasing an additional 430 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in Rubrik during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.