Rubrik (NYSE:RBRK) Stock Rating Upgraded by Rosenblatt Securities

Rubrik (NYSE:RBRK) was upgraded by research analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $77.00 price target on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 42.54% from the company’s previous close.

A number of other brokerages have also issued reports on RBRK. Truist Financial raised their price target on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Mizuho raised 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. Wells Fargo & Company raised their price target on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Oppenheimer started coverage on Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Finally, Barclays lifted their price objective on Rubrik from $51.00 to $70.00 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, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $65.56.

Rubrik Stock Up 4.2 %

RBRK opened at $54.02 on Wednesday. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00. The business’s fifty day simple moving average is $68.59 and its 200 day simple moving average is $53.23.

Insider Activity at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the completion of the transaction, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $13,505,393.61. This trade represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 3,973 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the transaction, the chief financial officer now directly owns 345,374 shares of the company’s stock, valued at $24,984,355.16. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 625,712 shares of company stock valued at $41,583,311 over the last 90 days.

Institutional Investors Weigh In On Rubrik

Several hedge funds have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC lifted its holdings in shares of Rubrik by 3.0% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after purchasing an additional 300 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Rubrik during the fourth quarter valued at $28,000. KBC Group NV lifted its stake in Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after acquiring an additional 430 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in Rubrik in the 4th quarter worth about $39,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.