Rubrik (NYSE:RBRK) Stock Price Up 6.1% – Time to Buy?

Rubrik, Inc. (NYSE:RBRK) shares traded up 6.1% during mid-day trading on Tuesday . The stock traded as high as $74.50 and last traded at $73.24. 538,328 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 2,229,949 shares. The stock had previously closed at $69.01.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Barclays boosted their target price on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Mizuho boosted their price target on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, FBN Securities began coverage on shares of Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $64.67.

Rubrik Stock Up 6.4 %

The business has a 50 day simple moving average of $63.28 and a 200-day simple moving average of $45.45.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 3,973 shares of Rubrik stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $287,406.82. Following the completion of the transaction, the chief financial officer now owns 345,374 shares in the company, valued at approximately $24,984,355.16. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $50.38, for a total value of $1,259,500.00. Following the sale, the executive now owns 362,545 shares of the company’s stock, valued at approximately $18,265,017.10. The trade was a 6.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 598,755 shares of company stock valued at $37,205,583 in the last three months.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RBRK. Wealthcare Advisory Partners LLC lifted its holdings in Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after buying an additional 300 shares during the last quarter. KBC Group NV increased its position in Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after acquiring an additional 430 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of Rubrik during the 3rd quarter valued at $25,000. Hamilton Lane Advisors LLC increased its position in shares of Rubrik by 3.0% during the 4th quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock valued at $2,224,000 after purchasing an additional 980 shares during the period. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Rubrik in the 4th quarter worth $70,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.