Rubrik (NYSE:RBRK) Given Buy Rating at Guggenheim

Rubrik (NYSE:RBRK)‘s stock had its “buy” rating reissued by equities research analysts at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $76.00 price objective on the stock. Guggenheim’s price target would indicate a potential upside of 14.15% from the company’s current price.

A number of other brokerages have also recently weighed in on RBRK. Oppenheimer assumed coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Citigroup raised their target price on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Robert W. Baird raised their price target on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Cantor Fitzgerald upped their price target on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company raised their price target on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Rubrik has an average rating of “Moderate Buy” and a consensus price target of $65.56.

Rubrik Price Performance

Shares of Rubrik stock traded up $2.72 during trading hours on Wednesday, reaching $66.58. 286,862 shares of the company’s stock were exchanged, compared to its average volume of 2,076,296. The business has a fifty day moving average of $70.02 and a two-hundred day moving average of $51.39. Rubrik has a 1 year low of $28.34 and a 1 year high of $80.00.

Insider Activity

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,499 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $67.66, for a total value of $2,198,882.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the executive now directly owns 337,545 shares in the company, valued at $16,877,250. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 610,334 shares of company stock worth $40,413,942.

Hedge Funds Weigh In On Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC raised its stake in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik during the 4th quarter worth approximately $28,000. KBC Group NV increased its stake in shares of Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after acquiring an additional 430 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in shares of Rubrik during the fourth quarter worth $39,000. Institutional investors 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.