Rubrik (NYSE:RBRK) PT Raised to $48.00 at Wedbush

Rubrik (NYSE:RBRK) had its price target boosted by Wedbush from $44.00 to $48.00 in a research report released on Wednesday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets lowered their price target on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Baird R W upgraded shares of Rubrik to a “strong-buy” rating in a research report on Monday, July 15th. Guggenheim reaffirmed a “buy” rating and issued a $48.00 target price on shares of Rubrik in a research report on Tuesday, June 25th. CIBC raised their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research report on Tuesday, September 10th. Finally, Piper Sandler began coverage on shares of Rubrik in a research note on Monday, August 19th. They set an “overweight” rating and a $42.00 price target on the stock. Sixteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Rubrik has a consensus rating of “Buy” and an average target price of $44.65.

Rubrik Trading Down 0.7 %

NYSE RBRK opened at $38.87 on Wednesday. The firm has a fifty day moving average of $33.66. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.36.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. As a group, analysts anticipate that Rubrik will post -7.95 EPS for the current year.

Insider Transactions at Rubrik

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction 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 completion of the sale, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 45,800 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the completion of the transaction, the chief financial officer now owns 448,560 shares in the company, valued at $17,592,523.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 368,329 shares of company stock valued at $12,241,803.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RBRK. Quent Capital LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at $192,000. Register Financial Advisors LLC acquired a new position in shares of Rubrik in the 2nd quarter valued at approximately $227,000. Sei Investments Co. bought a new position in Rubrik in the second quarter valued at approximately $235,000. PFG Investments LLC acquired a new stake in shares of Rubrik during the second quarter worth $242,000. Finally, Natixis Advisors LLC acquired a new position in shares of Rubrik during the second quarter worth about $406,000.

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.