Rubrik (NYSE:RBRK) Trading Up 6.1% – Here’s Why

Rubrik, Inc. (NYSE:RBRK)’s stock price traded up 6.1% on Tuesday . The stock traded as high as $74.50 and last traded at $73.24. 538,328 shares were traded during mid-day trading, a decline of 76% from the average session volume of 2,229,949 shares. The stock had previously closed at $69.01.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RBRK. Guggenheim lifted their price target 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. Rosenblatt Securities initiated coverage on shares of Rubrik in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. BMO Capital Markets upped their target price on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Wedbush raised their price target on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, KeyCorp lifted their price target on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $64.67.

Rubrik Stock Down 0.1 %

The firm has a 50 day moving average of $64.44 and a two-hundred day moving average of $45.93.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $43.15, for a total transaction of $77,670.00. Following the transaction, the chief financial officer now directly owns 406,160 shares in the company, valued at $17,525,804. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. Insiders sold 594,255 shares of company stock valued at $37,016,628 in the last ninety days.

Institutional Investors Weigh In On Rubrik

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC raised its stake in Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after purchasing an additional 300 shares during the period. KBC Group NV increased its holdings in shares of Rubrik by 19.1% in the 4th 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 period. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik in the third quarter worth approximately $25,000. Hamilton Lane Advisors LLC boosted its holdings in shares of Rubrik by 3.0% during the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock worth $2,224,000 after purchasing an additional 980 shares during the period. Finally, Rhumbline Advisers acquired a new position in Rubrik in the 4th quarter valued at approximately $64,000. 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.