Guggenheim Reiterates “Buy” Rating for Rubrik (NYSE:RBRK)

Rubrik (NYSE:RBRK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $76.00 price objective on the stock. Guggenheim’s price objective would suggest a potential upside of 14.15% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Oppenheimer began coverage on Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Barclays boosted their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Piper Sandler boosted their price objective on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their target price on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets boosted their target price on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Three research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.56.

Rubrik Trading Up 4.3 %

Rubrik stock traded up $2.72 during midday trading on Wednesday, reaching $66.58. The stock had a trading volume of 286,862 shares, compared to its average volume of 2,076,296. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00. The firm’s 50-day moving average price is $70.02 and its 200 day moving average price is $51.39.

Insider Activity at Rubrik

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, the director now owns 153 shares of the company’s stock, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Wendell Thompson sold 9,009 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $70.98, for a total transaction of $639,458.82. Following the transaction, the director now owns 998 shares in the company, valued at approximately $70,838.04. This trade represents a 90.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,334 shares of company stock valued at $40,413,942 in the last 90 days.

Institutional Trading of Rubrik

Several hedge funds have recently made changes to their positions in RBRK. Vanguard Group Inc. boosted its stake 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 purchasing an additional 3,372,323 shares during the period. Norges Bank bought a new position in Rubrik in the fourth quarter worth approximately $277,395,000. FMR LLC raised its position in Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. First Trust Advisors LP grew 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 in the last quarter. Finally, JPMorgan Chase & Co. increased 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 acquiring an additional 427,149 shares during the period. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.