Rubrik (NYSE:RBRK) Price Target Raised to $87.00 at KeyCorp

Rubrik (NYSE:RBRK) had its target price increased by KeyCorp from $75.00 to $87.00 in a report released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Citigroup raised their target price on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Rosenblatt Securities assumed coverage on Rubrik in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. Cantor Fitzgerald raised their target price on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Guggenheim boosted their price target on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company raised their price objective on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Three investment 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, Rubrik currently has an average rating of “Moderate Buy” and a consensus target price of $65.33.

Rubrik Trading Down 5.2 %

Shares of NYSE:RBRK opened at $72.98 on Tuesday. Rubrik has a twelve month low of $28.34 and a twelve month high of $79.05. The company’s 50 day moving average is $68.78 and its 200 day moving average is $48.52.

Insider Transactions at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now directly owns 153 shares in the company, valued at $10,342.80. The trade was a 94.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the 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 disclosure for this sale can be found here. Insiders have sold 656,434 shares of company stock valued at $42,599,751 over the last ninety days.

Hedge Funds Weigh In On Rubrik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. Vanguard Group Inc. raised 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 acquiring an additional 3,372,323 shares during the period. Champlain Investment Partners LLC acquired a new stake in Rubrik during the third quarter worth about $44,418,000. Point72 Asset Management L.P. purchased a new position in Rubrik during the third quarter worth about $42,247,000. PointState Capital LP acquired a new position in Rubrik in the 3rd quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC grew its stake in shares of Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after buying an additional 1,131,360 shares during the period. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Company Profile

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.