Rubrik, Inc. (NYSE:RBRK) Given Consensus Rating of “Buy” by Brokerages

Rubrik, Inc. (NYSE:RBRK) has been assigned an average recommendation of “Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Sixteen equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $44.65.

A number of equities analysts have commented on the company. BMO Capital Markets lowered their price objective on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. FBN Securities assumed coverage on Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective on the stock. Citigroup raised their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Wedbush raised their price objective on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price target on shares of Rubrik in a research note on Tuesday, September 10th.

Rubrik Stock Down 2.4 %

RBRK opened at $37.69 on Thursday. Rubrik has a 12-month low of $28.34 and a 12-month high of $41.33. The company has a 50 day simple moving average of $34.37.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. As a group, equities research analysts anticipate that Rubrik will post -7.94 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 7,583 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $40.14, for a total transaction of $304,381.62. Following the sale, the chief financial officer now directly owns 438,560 shares of the company’s stock, valued at approximately $17,603,798.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,912 shares of company stock valued at $12,546,185.

Hedge Funds Weigh In On Rubrik

A number of institutional investors and hedge funds have recently made changes to their positions in RBRK. Dragoneer Investment Group LLC bought a new stake in Rubrik during the 2nd quarter valued at $47,523,000. Clearbridge Investments LLC bought a new stake in shares of Rubrik during the second quarter worth about $32,888,000. EPIQ Capital Group LLC acquired a new stake in shares of Rubrik in the 2nd quarter worth about $15,111,000. SG Americas Securities LLC acquired a new stake in shares of Rubrik in the 3rd quarter worth about $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Rubrik in the 2nd quarter valued at about $7,665,000.

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.