Rubrik (NYSE:RBRK) Given New $80.00 Price Target at Wedbush

Rubrik (NYSE:RBRK) had its target price lifted by equities research analysts at Wedbush from $75.00 to $80.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 14.98% from the stock’s current price.

A number of other research firms have also recently commented on RBRK. Robert W. Baird dropped their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday. William Blair started coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Wells Fargo & Company raised their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. KeyCorp boosted their price target on shares of Rubrik from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Guggenheim restated a “buy” rating and set a $76.00 price target on shares of Rubrik in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $69.83.

Rubrik Stock Up 25.9 %

Shares of Rubrik stock traded up $14.30 during trading on Friday, reaching $69.58. The company’s stock had a trading volume of 2,160,197 shares, compared to its average volume of 1,890,559. Rubrik has a 1-year low of $28.34 and a 1-year high of $80.00. The company has a 50-day simple moving average of $68.42 and a two-hundred day simple moving average of $53.26.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.59) EPS. Equities research analysts forecast that Rubrik will post -7.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 65,517 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $66.06, for a total value of $4,328,053.02. Following the completion of the sale, the executive now directly owns 406,043 shares of the company’s stock, valued at $26,823,200.58. This represents a 13.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at $13,505,393.61. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 625,712 shares of company stock worth $41,583,311 over the last three months.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Wealthcare Advisory Partners LLC increased its holdings in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after acquiring an additional 300 shares during the period. Russell Investments Group Ltd. purchased a new stake in Rubrik during the fourth quarter valued at approximately $28,000. KBC Group NV grew its holdings in shares of Rubrik by 19.1% during the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after buying an additional 430 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Finally, Nemes Rush Group LLC acquired a new position in Rubrik during the fourth quarter valued at $39,000. 49.54% of the stock is currently owned by 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.