Rubrik (NYSE:RBRK) Coverage Initiated by Analysts at FBN Securities

FBN Securities initiated coverage on shares of Rubrik (NYSE:RBRK) in a report issued on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $40.00 target price on the stock.

RBRK has been the subject of a number of other research reports. Baird R W upgraded Rubrik to a strong-buy rating in a research note on Monday, July 15th. CIBC upped their price target on shares of Rubrik from $50.00 to $52.00 and gave the company an outperformer rating in a research report on Tuesday, September 10th. Piper Sandler began coverage on shares of Rubrik in a research report on Monday, August 19th. They set an overweight rating and a $42.00 price objective on the stock. Guggenheim restated a buy rating and issued a $48.00 price objective on shares of Rubrik in a research note on Tuesday, June 25th. Finally, Citigroup increased their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Sixteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Rubrik has a consensus rating of Buy and a consensus price target of $44.41.

Rubrik Stock Performance

Shares of RBRK stock opened at $32.61 on Monday. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.00. The business’s 50-day moving average price is $33.07.

Insider Buying and Selling at Rubrik

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the transaction, the executive now owns 437,545 shares in the company, valued at approximately $13,673,281.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the sale, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the transaction, the executive now directly owns 437,545 shares of the company’s stock, valued at $13,673,281.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 297,529 shares of company stock valued at $9,445,527.

Institutional Trading of Rubrik

Several large investors have recently bought and sold shares of RBRK. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik during the 2nd quarter worth $47,523,000. Clearbridge Investments LLC purchased a new position in Rubrik during the 2nd quarter valued at about $32,888,000. EPIQ Capital Group LLC acquired a new position in Rubrik during the second quarter worth about $15,111,000. SG Americas Securities LLC purchased a new stake in shares of Rubrik in the third quarter valued at about $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Rubrik in the second quarter valued at approximately $7,665,000.

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.