Rubrik (NYSE:RBRK) Price Target Raised to $87.00 at KeyCorp

Rubrik (NYSE:RBRK) had its price target raised by equities researchers at KeyCorp from $75.00 to $87.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 12.24% from the stock’s current price.

Several other equities analysts have also commented on the company. William Blair started coverage on Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating on the stock. Wells Fargo & Company increased their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Cantor Fitzgerald upped their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets lifted their target price on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Barclays upped their price target on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Three analysts have 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. Based on data from MarketBeat, Rubrik currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.33.

Rubrik Price Performance

Rubrik stock opened at $77.51 on Tuesday. The firm has a 50 day simple moving average of $69.27 and a 200-day simple moving average of $48.72. Rubrik has a 1-year low of $28.34 and a 1-year high of $79.05.

Insider Activity

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the completion of the transaction, the executive now owns 362,545 shares in the company, valued at approximately $18,265,017.10. This represents a 6.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Wendell Thompson sold 9,009 shares of Rubrik stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $70.98, for a total transaction of $639,458.82. Following the completion of the sale, the director now directly owns 998 shares in the company, valued at approximately $70,838.04. The trade was a 90.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 646,434 shares of company stock valued at $42,154,951.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RBRK. Wealthcare Advisory Partners LLC grew 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 worth $683,000 after acquiring an additional 300 shares during the period. KBC Group NV raised its stake in shares of Rubrik by 19.1% during the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after buying an additional 430 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after buying an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new position in Rubrik during the fourth quarter worth about $39,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik in the third quarter valued at about $25,000. 49.54% of the stock is owned by hedge funds and other 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.