Rubrik (NYSE:RBRK) Hits New 1-Year High – Should You Buy?

Shares of Rubrik, Inc. (NYSE:RBRK) reached a new 52-week high during trading on Tuesday . The stock traded as high as $41.38 and last traded at $41.24, with a volume of 91753 shares traded. The stock had previously closed at $40.58.

Wall Street Analysts Forecast Growth

RBRK has been the topic of a number of recent analyst reports. CIBC increased their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 target price on shares of Rubrik in a research report on Tuesday, September 10th. Baird R W upgraded Rubrik to a “strong-buy” rating in a report on Monday, July 15th. Citigroup increased their price objective on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Piper Sandler assumed coverage on shares of Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price for the company. Sixteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Rubrik currently has an average rating of “Buy” and an average target price of $44.65.

Rubrik Stock Up 7.8 %

The stock has a 50-day moving average of $34.69.

Rubrik (NYSE:RBRK) last posted its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. As a group, research analysts anticipate that Rubrik, Inc. will post -7.94 EPS for the current year.

Insider Buying and Selling at Rubrik

In related news, 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 owns 56,736 shares in the company, valued at approximately $1,857,536.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold a total of 375,912 shares of company stock valued at $12,546,185 in the last ninety days.

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently made changes to their positions in the company. Stephens Investment Management Group LLC boosted its holdings in Rubrik by 3.5% in the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company’s stock worth $8,499,000 after purchasing an additional 8,903 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Rubrik in the 3rd quarter worth about $1,808,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at about $208,000. Legacy Capital Group California Inc. bought a new stake in shares of Rubrik during the 3rd quarter valued at about $2,419,000. Finally, Renaissance Capital LLC raised its stake in Rubrik by 190.1% during the third quarter. Renaissance Capital LLC now owns 60,061 shares of the company’s stock worth $1,931,000 after acquiring an additional 39,354 shares during the period.

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.