Mizuho Forecasts Strong Price Appreciation for Rubrik (NYSE:RBRK) Stock

Rubrik (NYSE:RBRK) had its price objective hoisted by investment analysts at Mizuho from $75.00 to $82.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 8.59% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their price objective on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Guggenheim boosted their target price on shares of Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler reissued an “overweight” rating and issued a $72.00 target price (up previously from $42.00) on shares of Rubrik in a research report on Friday, December 6th. KeyCorp boosted their target price on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Barclays boosted their target price on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and an average price target of $62.71.

Rubrik Stock Up 4.6 %

RBRK stock opened at $75.51 on Tuesday. The company has a fifty day moving average price of $47.40 and a two-hundred day moving average price of $37.86. Rubrik has a one year low of $28.34 and a one year high of $75.79.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the sale, the executive now directly owns 437,545 shares in the company, valued at $13,673,281.25. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now owns 493,360 shares in the company, valued at $15,496,437.60. The trade was a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 560,779 shares of company stock valued at $22,317,557.

Institutional Trading of Rubrik

Several institutional investors have recently added to or reduced their stakes in the stock. 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 bought a new position in shares of Rubrik during the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. bought a new position in shares of Rubrik during the 3rd quarter worth approximately $42,247,000. PointState Capital LP bought a new position in shares of Rubrik during the 3rd quarter worth approximately $40,466,000. Finally, Institutional Venture Management XV LLC boosted its holdings in shares of Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after buying an additional 1,131,360 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors.

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.