Rubrik (NYSE:RBRK) Sets New 1-Year High – Still a Buy?

Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high during trading on Monday . The company traded as high as $75.29 and last traded at $75.22, with a volume of 2041492 shares. The stock had previously closed at $72.18.

Analyst Ratings Changes

RBRK has been the topic of several analyst reports. Citigroup raised their price objective on Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. CIBC lifted their price target on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Piper Sandler reissued an “overweight” rating and issued a $72.00 target price (up from $42.00) on shares of Rubrik in a research report on Friday, December 6th. KeyCorp lifted their price target on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Wedbush boosted their price objective on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $61.88.

Rubrik Trading Up 4.6 %

The business has a 50 day simple moving average of $46.55 and a two-hundred day simple moving average of $37.54.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares of the company’s stock, valued at $14,486,909.40. This represents a 18.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the completion of the transaction, the chief financial officer now directly owns 493,360 shares in the company, valued at $15,496,437.60. This represents a 9.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 560,779 shares of company stock valued at $22,317,557 in the last ninety days.

Institutional Trading of Rubrik

Large investors have recently modified their holdings of the company. Zweig DiMenna Associates LLC acquired a new stake in shares of Rubrik in the second quarter valued at approximately $6,730,000. EFG Asset Management North America Corp. bought a new stake in Rubrik during the 2nd quarter valued at $925,000. ARK Investment Management LLC acquired a new position in Rubrik during the 2nd quarter worth $6,043,000. Cisco Systems Inc. bought a new position in shares of Rubrik in the second quarter worth $5,613,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Rubrik during the second quarter valued at $503,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.