Rubrik, Inc. (NYSE:RBRK) Receives Average Recommendation of “Buy” from Brokerages

Rubrik, Inc. (NYSE:RBRK) has earned a consensus recommendation of “Buy” from the seventeen research firms that are presently covering the stock, MarketBeat reports. Fifteen investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $44.69.

A number of equities analysts have recently commented on the company. Guggenheim reissued a “buy” rating and set a $48.00 price objective on shares of Rubrik in a research report on Tuesday, June 25th. Robert W. Baird assumed coverage on Rubrik in a research report on Monday, July 15th. They set an “outperform” rating and a $42.00 price objective for the company. Wedbush lowered their price objective on Rubrik from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. CIBC upped their price target on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Finally, KeyCorp upped their price target on Rubrik from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, June 12th.

Insiders Place Their Bets

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the sale, the insider now owns 56,736 shares in the company, valued at $1,857,536.64. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC acquired a new position in Rubrik during the 2nd quarter worth $227,000. Sei Investments Co. acquired a new position in Rubrik during the 2nd quarter worth $235,000. PFG Investments LLC acquired a new position in Rubrik during the 2nd quarter worth $242,000. Natixis Advisors LLC acquired a new position in Rubrik during the 2nd quarter worth $406,000. Finally, Bank of Montreal Can acquired a new position in Rubrik during the 2nd quarter worth $427,000.

Rubrik Price Performance

Shares of Rubrik stock opened at $31.96 on Friday. Rubrik has a one year low of $28.34 and a one year high of $40.00. The stock’s 50-day moving average is $33.29.

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.