Rubrik (NYSE:RBRK) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Rubrik (NYSE:RBRK) in a report published on Tuesday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $77.00 price objective on the stock.

A number of other brokerages have also recently weighed in on RBRK. Wedbush boosted their price objective on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their target price 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 raised their price target on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, December 6th. FBN Securities assumed coverage on Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Robert W. Baird raised their target price on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $64.11.

Rubrik Stock Down 1.6 %

Shares of RBRK opened at $66.98 on Tuesday. The firm’s 50 day moving average price is $49.37 and its 200 day moving average price is $38.56. Rubrik has a twelve month low of $28.34 and a twelve month high of $75.79.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 51,924 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the sale, the chief financial officer now owns 493,360 shares of the company’s stock, valued at $15,496,437.60. The trade was a 9.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the sale, the executive now owns 437,545 shares in the company, valued at $13,673,281.25. This trade represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 493,237 shares of company stock worth $21,391,568.

Institutional Investors Weigh In On Rubrik

A number of hedge funds have recently made changes to their positions in RBRK. Janus Henderson Group PLC boosted its position in Rubrik by 6.9% in the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after buying an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rubrik in the 3rd quarter worth approximately $323,000. Diversified Trust Co bought a new stake in Rubrik during the 3rd quarter worth approximately $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Rubrik by 24.8% during 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 valued at $7,998,000 after purchasing an additional 49,372 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new position in Rubrik in the 2nd quarter valued at $2,606,000. Institutional investors and hedge funds 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.