Rubrik (NYSE:RBRK) Given New $82.00 Price Target at KeyCorp

Rubrik (NYSE:RBRK) had its price objective trimmed by KeyCorp from $87.00 to $82.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They set a “market perform” rating on the stock. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. BMO Capital Markets increased their price target on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barclays increased their price target on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $69.78.

Rubrik Stock Up 27.6 %

RBRK stock opened at $70.54 on Friday. The firm’s fifty day simple moving average is $68.20 and its 200-day simple moving average is $53.27. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. Rubrik’s revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.59) earnings per share. On average, equities analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at $13,505,393.61. The trade was a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $68.03, for a total transaction of $122,454.00. Following the transaction, the chief financial officer now directly owns 343,774 shares in the company, valued at $23,386,945.22. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 625,712 shares of company stock valued at $41,583,311.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently bought and sold shares of the company. Centaurus Financial Inc. purchased a new position in Rubrik during the fourth quarter worth about $115,000. PharVision Advisers LLC purchased a new position in Rubrik during the fourth quarter worth about $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rubrik by 168.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company’s stock worth $43,610,000 after purchasing an additional 418,457 shares during the period. Voloridge Investment Management LLC purchased a new position in Rubrik during the fourth quarter worth about $85,331,000. Finally, Washington Harbour Partners LP purchased a new position in Rubrik during the fourth quarter worth about $4,235,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.