Rubrik (NYSE:RBRK) Receives Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Rubrik (NYSE:RBRK) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $76.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on RBRK. Truist Financial upped their price objective on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler upped their price objective on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Robert W. Baird upped their price objective on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Barclays upped their price objective on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, William Blair started coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.56.

Rubrik Stock Performance

NYSE RBRK opened at $65.72 on Wednesday. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00. The stock’s 50 day moving average price is $69.98 and its two-hundred day moving average price is $51.49.

Insider Buying and Selling at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $51.51, for a total value of $92,718.00. Following the transaction, the chief financial officer now directly owns 372,960 shares of the company’s stock, valued at $19,211,169.60. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the completion of the transaction, the director now directly owns 153 shares in the company, valued at approximately $11,828.43. This represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 610,334 shares of company stock valued at $40,413,942 in the last ninety days.

Institutional Trading of Rubrik

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. Norges Bank acquired a new stake in shares of Rubrik during the 4th quarter worth $277,395,000. FMR LLC grew its holdings in shares of Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Rubrik by 26.6% during the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock worth $206,278,000 after purchasing an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Rubrik by 27.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after purchasing an additional 427,149 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

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.