Rubrik (NYSE:RBRK) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Rubrik (NYSE:RBRK) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

Several other research analysts also recently commented on RBRK. Wells Fargo & Company lowered their price objective on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Barclays boosted their price target on Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler started coverage on Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective for the company. CIBC lifted their target price on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research report on Tuesday, September 10th. Finally, Wedbush increased their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $46.71.

Rubrik Price Performance

RBRK opened at $49.23 on Wednesday. Rubrik has a 52-week low of $28.34 and a 52-week high of $49.73. The business’s fifty day moving average is $38.27 and its 200-day moving average is $34.82.

Rubrik (NYSE:RBRK) last announced 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 business had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. On average, research analysts expect that Rubrik will post -8.04 earnings per share for the current year.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 10,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $44.48, for a total transaction of $444,800.00. Following the completion of the sale, the chief financial officer now owns 385,360 shares in the company, valued at approximately $17,140,812.80. This represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at $14,486,909.40. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 454,512 shares of company stock valued at $15,813,462.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC bought a new stake in Rubrik in the second quarter worth about $47,523,000. Champlain Investment Partners LLC bought a new stake in shares of Rubrik in the 3rd quarter worth approximately $44,418,000. Point72 Asset Management L.P. purchased a new position in Rubrik in the third quarter valued at approximately $42,247,000. PointState Capital LP bought a new position in Rubrik during the third quarter valued at $40,466,000. Finally, Institutional Venture Management XV LLC increased its position in Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after buying an additional 1,131,360 shares during the last quarter.

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.