Rubrik (NYSE:RBRK) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Rubrik (NYSE:RBRK) in a research report sent to investors on Wednesday, MarketBeat reports. The firm issued a market perform rating on the stock.

RBRK has been the subject of several other research reports. Truist Financial reaffirmed a “buy” rating and set a $43.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. Citigroup lifted their price target on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. FBN Securities started coverage on Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 price target for the company. Wedbush boosted their target price on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird raised their price target on Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Rubrik has an average rating of “Buy” and an average target price of $45.00.

Rubrik Price Performance

Rubrik stock traded down $1.26 during midday trading on Wednesday, hitting $43.24. 1,627,446 shares of the company’s stock were exchanged, compared to its average volume of 1,489,906. Rubrik has a 52-week low of $28.34 and a 52-week high of $45.90. The stock has a 50-day moving average price of $37.18 and a two-hundred day moving average price of $34.47.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. On average, research analysts forecast that Rubrik will post -7.94 earnings per share for the current fiscal year.

Insider Activity at Rubrik

In other news, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at $16,668,564. This represents a 0.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders have sold 444,512 shares of company stock worth $15,368,662 over the last ninety days.

Institutional Trading of Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik during the 3rd quarter valued at about $25,000. KBC Group NV bought a new stake in Rubrik during the 3rd quarter worth approximately $72,000. Quent Capital LLC bought a new stake in Rubrik during the 3rd quarter worth approximately $192,000. Mount Yale Investment Advisors LLC bought a new stake in Rubrik during the 3rd quarter worth approximately $208,000. Finally, Register Financial Advisors LLC bought a new stake in Rubrik during the 2nd quarter worth approximately $227,000.

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.