KeyCorp Cuts Rubrik (NYSE:RBRK) Price Target to $82.00

Rubrik (NYSE:RBRK) had its price target reduced by investment analysts at KeyCorp from $87.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 17.95% from the company’s current price.

Several other research analysts have also recently issued reports on RBRK. BMO Capital Markets increased their target price on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Robert W. Baird decreased their price target on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company lifted their target price on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Finally, William Blair started coverage on shares of Rubrik in a research report on Friday, February 7th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $69.78.

Rubrik Stock Performance

NYSE:RBRK traded up $14.24 during mid-day trading on Friday, hitting $69.52. 3,046,616 shares of the stock traded hands, compared to its average volume of 1,892,971. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00. The firm’s 50 day moving average is $68.42 and its two-hundred day moving average is $53.26.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. The firm’s revenue was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.59) earnings per share. Research analysts predict that Rubrik will post -7.66 EPS for the current year.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 3,973 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $287,406.82. Following the completion of the sale, the chief financial officer now directly owns 345,374 shares in the company, valued at $24,984,355.16. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian K. Mccarthy sold 28,485 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $2,060,604.90. Following the sale, the executive now owns 346,560 shares of the company’s stock, valued at approximately $25,070,150.40. The trade was a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 625,712 shares of company stock valued at $41,583,311 in the last 90 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RBRK. Vanguard Group Inc. lifted its stake in Rubrik by 114.1% during the fourth 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 purchased a new position in shares of Rubrik in the 4th quarter valued at about $277,395,000. FMR LLC raised its holdings in Rubrik by 172.6% during the fourth 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 lifted its position 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 buying an additional 662,914 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after buying an additional 427,149 shares in the last quarter. Hedge funds and other 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.