Rubrik (NYSE:RBRK) Now Covered by Analysts at William Blair

William Blair started coverage on shares of Rubrik (NYSE:RBRK) in a report issued on Friday morning, MarketBeat reports. The firm issued a market perform rating on the stock.

Several other research firms also recently issued reports on RBRK. Robert W. Baird upped their price objective on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Piper Sandler lifted their price objective on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Mizuho upped their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price target on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Oppenheimer began coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.67.

Rubrik Stock Down 1.1 %

NYSE RBRK opened at $74.52 on Friday. Rubrik has a 12-month low of $28.34 and a 12-month high of $79.05. The firm’s fifty day simple moving average is $67.78 and its two-hundred day simple moving average is $47.78.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $45.00, for a total value of $81,000.00. Following the transaction, the chief financial officer now directly owns 384,560 shares of the company’s stock, valued at approximately $17,305,200. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the sale, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $16,413,033.15. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 659,104 shares of company stock worth $42,720,088 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RBRK. HighTower Advisors LLC purchased a new position in Rubrik during the fourth quarter worth approximately $1,495,000. Endowment Wealth Management Inc. acquired a new position in shares of Rubrik during the 4th quarter valued at about $655,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Rubrik by 82.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,359 shares of the company’s stock valued at $1,200,000 after purchasing an additional 8,300 shares during the period. Amundi acquired a new stake in Rubrik during the fourth quarter worth about $2,329,000. Finally, Haven Private LLC purchased a new position in Rubrik during the fourth quarter worth about $480,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.