Rubrik (NYSE:RBRK) Now Covered by Rosenblatt Securities

Investment analysts at Rosenblatt Securities initiated coverage on shares of Rubrik (NYSE:RBRK) in a report released on Tuesday, Marketbeat reports. The brokerage set a “neutral” rating and a $77.00 price target on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 13.15% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. CIBC increased their price target 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. Robert W. Baird increased their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Wells Fargo & Company boosted their price target on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Citigroup increased their price objective on Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Cantor Fitzgerald boosted their target price on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $63.50.

Rubrik Trading Down 6.7 %

Shares of RBRK stock opened at $68.05 on Tuesday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $75.79. The stock has a 50 day moving average price of $48.80 and a two-hundred day moving average price of $38.36.

Insider Activity at Rubrik

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $69.70, for a total value of $125,460.00. Following the sale, the chief financial officer now directly owns 342,160 shares of the company’s stock, valued at approximately $23,848,552. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the transaction, the executive now owns 462,545 shares of the company’s stock, valued at $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.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently bought and sold shares of RBRK. Janus Henderson Group PLC increased its stake in Rubrik by 6.9% during the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after purchasing an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rubrik during the third quarter valued at approximately $323,000. Diversified Trust Co bought a new stake in shares of Rubrik during the third quarter valued at approximately $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $7,998,000 after acquiring an additional 49,372 shares during the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new position in Rubrik in the 2nd quarter worth approximately $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.