Analysts Set Rubrik, Inc. (NYSE:RBRK) Price Target at $64.11

Shares of Rubrik, Inc. (NYSE:RBRK) have earned an average rating of “Buy” from the twenty research firms that are covering the company, MarketBeat reports. Two equities 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. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $64.11.

A number of research analysts have weighed in on RBRK shares. Truist Financial lifted their target price on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Wells Fargo & Company increased their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Mizuho raised their price target on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, KeyCorp upped their price target on shares of Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, December 6th.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $41.39, for a total transaction of $1,034,750.00. Following the completion of the sale, the executive now directly owns 387,545 shares in the company, valued at $16,040,487.55. This represents a 6.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kiran Kumar Choudary sold 45,800 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the completion of the sale, the chief financial officer now directly owns 448,560 shares in the company, valued at approximately $17,592,523.20. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 340,241 shares of company stock valued at $17,618,308 over the last three months.

Hedge Funds Weigh In On Rubrik

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

Rubrik Trading Up 1.9 %

Shares of NYSE RBRK opened at $68.18 on Tuesday. The stock has a fifty day moving average of $56.11 and a 200-day moving average of $41.62. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $75.79.

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.