Mizuho Raises Rubrik (NYSE:RBRK) Price Target to $82.00

Rubrik (NYSE:RBRK) had its price target lifted by equities research analysts at Mizuho from $75.00 to $82.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 20.50% from the company’s current price.

Other research analysts have also issued research reports about the stock. KeyCorp lifted their price objective on shares of 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 target 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. CIBC upped 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. BMO Capital Markets lifted their target price on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Robert W. Baird boosted their target price on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $63.50.

Rubrik Price Performance

NYSE:RBRK opened at $68.05 on Tuesday. Rubrik has a 1-year low of $28.34 and a 1-year high of $75.79. The business’s 50-day moving average price is $48.80 and its two-hundred day moving average price is $38.36.

Insider Buying and Selling at Rubrik

In other news, CRO Brian K. Mccarthy sold 104,672 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. This represents a 18.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 493,360 shares of the company’s stock, valued at $15,496,437.60. This represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 460,779 shares of company stock worth $19,043,557.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC bought a new position in shares of Rubrik during the 2nd quarter worth approximately $47,523,000. Champlain Investment Partners LLC acquired a new stake in Rubrik during the 3rd quarter valued at $44,418,000. Point72 Asset Management L.P. acquired a new stake in Rubrik during the 3rd quarter valued at $42,247,000. PointState Capital LP bought a new position in Rubrik during the third quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC increased its holdings in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.