Rubrik (NYSE:RBRK) Price Target Raised to $68.00 at Mizuho

Rubrik (NYSE:RBRK) had its target price increased by equities research analysts at Mizuho from $47.00 to $68.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 0.12% from the company’s current price.

Several other analysts also recently commented on RBRK. Truist Financial raised their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. FBN Securities initiated coverage on shares of Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target for the company. Barclays increased their price objective on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. KeyCorp boosted their target price on Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Robert W. Baird raised their price objective on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $61.88.

Rubrik Price Performance

Shares of NYSE:RBRK traded up $3.29 during mid-day trading on Monday, reaching $67.92. 779,794 shares of the company’s stock were exchanged, compared to its average volume of 1,582,386. Rubrik has a twelve month low of $28.34 and a twelve month high of $72.66. The business’s fifty day moving average price is $42.65 and its 200-day moving average price is $36.20.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts predict that Rubrik will post -8.04 earnings per share for the current year.

Insider Transactions at Rubrik

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the completion of the sale, the chief financial officer now directly owns 423,060 shares in the company, valued at $16,668,564. This represents a 0.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $64.37, for a total value of $1,609,250.00. Following the completion of the sale, the executive now owns 312,545 shares of the company’s stock, valued at $20,118,521.65. The trade was a 7.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 574,912 shares of company stock valued at $22,673,114.

Institutional Investors Weigh In On Rubrik

Large investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC bought a new stake in Rubrik in the second quarter valued at $47,523,000. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik in the 3rd quarter worth about $44,418,000. Point72 Asset Management L.P. bought a new stake in shares of Rubrik during the 3rd quarter valued at about $42,247,000. PointState Capital LP purchased a new position in shares of Rubrik during the third quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC raised its stake 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 in the last quarter. 49.54% of the stock is currently owned by 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.