Rubrik (NYSE:RBRK) Price Target Lowered to $76.00 at KeyCorp

Rubrik (NYSE:RBRK) had its price target lowered by analysts at KeyCorp from $82.00 to $76.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 24.49% from the company’s current price.

RBRK has been the subject of a number of other research reports. Citigroup boosted their price objective on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Robert W. Baird decreased their price target on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. BMO Capital Markets raised their target price on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Rubrik in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $68.83.

Rubrik Price Performance

RBRK stock traded down $1.27 during mid-day trading on Thursday, reaching $61.05. The company had a trading volume of 118,798 shares, compared to its average volume of 2,403,557. The firm has a 50 day moving average of $64.91 and a 200 day moving average of $58.59. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00. The company has a market capitalization of $11.59 billion and a PE ratio of -4.43.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter in the prior year, the firm earned ($1.59) EPS. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. Analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insiders Place Their Bets

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $56.61, for a total transaction of $1,838,919.24. Following the completion of the sale, the chief technology officer now directly owns 121,827 shares in the company, valued at $6,896,626.47. This trade represents a 21.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $70.94, for a total transaction of $1,773,500.00. Following the completion of the transaction, the executive now owns 381,043 shares in the company, valued at approximately $27,031,190.42. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 500,406 shares of company stock valued at $33,211,682 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Rubrik during the 1st quarter worth approximately $820,000. Stablepoint Partners LLC grew its stake in Rubrik by 45.9% during the 1st quarter. Stablepoint Partners LLC now owns 17,595 shares of the company’s stock worth $1,073,000 after purchasing an additional 5,533 shares in the last quarter. Hamilton Lane Advisors LLC increased its holdings in Rubrik by 210.3% during the 1st quarter. Hamilton Lane Advisors LLC now owns 105,573 shares of the company’s stock worth $6,438,000 after purchasing an additional 71,547 shares during the period. Green Alpha Advisors LLC raised its position in Rubrik by 53.4% in the 1st quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company’s stock valued at $495,000 after purchasing an additional 2,824 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Rubrik by 204.1% in the 1st quarter. Rhumbline Advisers now owns 2,980 shares of the company’s stock valued at $182,000 after buying an additional 2,000 shares during the period. 49.54% of the stock is currently 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.