Truist Financial Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its price target upped by Truist Financial from $43.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research firms also recently commented on RBRK. Citigroup upped their price target on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price target on shares of Rubrik in a research report on Tuesday, September 10th. BMO Capital Markets reduced their price target on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. FBN Securities started coverage on Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Piper Sandler began coverage on Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 target price for the company. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $45.41.

Rubrik Price Performance

Rubrik stock opened at $43.79 on Monday. Rubrik has a twelve month low of $28.34 and a twelve month high of $45.90. The company’s 50-day moving average price is $37.41 and its two-hundred day moving average price is $34.57.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. On average, analysts forecast that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 10,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $44.48, for a total value of $444,800.00. Following the completion of the sale, the chief financial officer now owns 385,360 shares of the company’s stock, valued at approximately $17,140,812.80. This represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction that occurred 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 $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 454,512 shares of company stock valued at $15,813,462.

Institutional Investors Weigh In On Rubrik

Large investors have recently bought and sold shares of the stock. Dragoneer Investment Group LLC bought a new position in shares of Rubrik during the 2nd quarter worth about $47,523,000. Champlain Investment Partners LLC acquired a new stake in Rubrik in the third quarter valued at approximately $44,418,000. Point72 Asset Management L.P. bought a new stake in shares of Rubrik during the third quarter valued at approximately $42,247,000. PointState Capital LP acquired a new position in shares of Rubrik during the third quarter worth approximately $40,466,000. Finally, Institutional Venture Management XV LLC lifted its holdings in shares of Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after purchasing an additional 1,131,360 shares in the last quarter.

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.