Guggenheim Reaffirms Buy Rating for Rubrik (NYSE:RBRK)

Rubrik (NYSE:RBRK)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They presently have a $76.00 price objective on the stock. Guggenheim’s target price indicates a potential upside of 18.10% from the company’s previous close.

RBRK has been the topic of several other reports. Robert W. Baird raised their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. William Blair started coverage on shares of Rubrik in a report on Friday, February 7th. They set a “market perform” rating on the stock. Wells Fargo & Company raised their target price on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Piper Sandler raised their target price on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Mizuho raised their target price on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.56.

Rubrik Stock Performance

Shares of RBRK stock opened at $64.35 on Wednesday. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00. The firm has a 50 day moving average price of $69.92 and a two-hundred day moving average price of $51.58.

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now owns 153 shares in the company, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive now owns 337,545 shares in the company, valued at approximately $16,877,250. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,334 shares of company stock worth $40,413,942 over the last quarter.

Hedge Funds Weigh In On Rubrik

Hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. acquired a new position in shares of Rubrik during the third quarter worth $25,000. Russell Investments Group Ltd. acquired a new position in shares of Rubrik during the fourth quarter worth $28,000. Global Retirement Partners LLC lifted its holdings in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after buying an additional 500 shares during the period. Nemes Rush Group LLC acquired a new position in Rubrik in the fourth quarter valued at $39,000. Finally, Point72 Hong Kong Ltd acquired a new position in Rubrik in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.