Brokerages Set Rubrik, Inc. (NYSE:RBRK) PT at $44.69

Rubrik, Inc. (NYSE:RBRK) has earned a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat reports. Fifteen equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $44.69.

A number of equities analysts have issued reports on the stock. Guggenheim reissued a “buy” rating and set a $48.00 price target on shares of Rubrik in a research report on Tuesday, June 25th. Robert W. Baird assumed coverage on shares of Rubrik in a research report on Monday, July 15th. They set an “outperform” rating and a $42.00 price target for the company. Barclays raised their price target on shares of Rubrik from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th. Wells Fargo & Company cut their target price on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Finally, Piper Sandler began coverage on shares of Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 target price for the company.

Rubrik Stock Up 0.7 %

RBRK opened at $31.96 on Friday. Rubrik has a 12-month low of $28.34 and a 12-month high of $40.00. The stock’s 50 day simple moving average is $33.29.

Insiders Place Their Bets

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RBRK. Register Financial Advisors LLC purchased a new stake in Rubrik in the 2nd quarter valued at about $227,000. Sei Investments Co. purchased a new stake in Rubrik during the second quarter worth about $235,000. PFG Investments LLC purchased a new stake in Rubrik during the second quarter worth about $242,000. Natixis Advisors LLC purchased a new stake in Rubrik during the second quarter worth about $406,000. Finally, Bank of Montreal Can purchased a new stake in Rubrik during the second quarter worth about $427,000.

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.