Rubrik (NYSE:RBRK) Research Coverage Started at FBN Securities

FBN Securities assumed coverage on shares of Rubrik (NYSE:RBRK) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $40.00 price objective on the stock.

Several other analysts have also recently weighed in on RBRK. Wedbush dropped their price target on shares of Rubrik from $50.00 to $44.00 and set an outperform rating for the company in a research note on Tuesday, September 10th. Wells Fargo & Company cut their target price on Rubrik from $42.00 to $40.00 and set an overweight rating for the company in a research note on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $50.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. Citigroup raised their price objective on Rubrik from $47.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, September 11th. Finally, KeyCorp upped their target price on shares of Rubrik from $46.00 to $48.00 and gave the company an overweight rating in a research report on Wednesday, June 12th. Sixteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $44.41.

Rubrik Stock Performance

Shares of RBRK stock opened at $32.61 on Monday. Rubrik has a twelve month low of $28.34 and a twelve month high of $40.00. The firm’s 50-day moving average price is $33.07.

Insider Activity

In related news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at $1,857,536.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 297,529 shares of company stock worth $9,445,527.

Institutional Investors Weigh In On Rubrik

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