Rubrik (NYSE:RBRK) Hits New 52-Week High – What’s Next?

Rubrik, Inc. (NYSE:RBRK)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $76.21 and last traded at $74.33, with a volume of 375363 shares traded. The stock had previously closed at $74.11.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Oppenheimer began coverage on Rubrik in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Guggenheim raised their price target on Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Mizuho lifted their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Cantor Fitzgerald increased their price objective on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, KeyCorp upped their price objective on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two research analysts have 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 data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $64.67.

Rubrik Stock Performance

The business’s 50-day moving average is $64.44 and its 200-day moving average is $45.93.

Insider Transactions at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $66.52, for a total transaction of $119,736.00. Following the completion of the transaction, the chief financial officer now directly owns 341,374 shares of the company’s stock, valued at $22,708,198.48. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34. The disclosure for this sale can be found here. Insiders sold 594,255 shares of company stock worth $37,016,628 over the last three months.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new stake in Rubrik in the third quarter worth about $25,000. Rhumbline Advisers bought a new position in shares of Rubrik in the 4th quarter worth $64,000. Geneos Wealth Management Inc. purchased a new stake in shares of Rubrik during the 4th quarter worth $70,000. KBC Group NV purchased a new stake in shares of Rubrik during the third quarter valued at about $72,000. Finally, Quent Capital LLC bought a new stake in shares of Rubrik in the 3rd quarter valued at about $192,000. 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.