Truist Financial Raises Rubrik (NYSE:RBRK) Price Target to $50.00

Rubrik (NYSE:RBRK) had its price target boosted by Truist Financial from $43.00 to $50.00 in a research note released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research firms have also weighed in on RBRK. Wedbush increased their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. FBN Securities assumed coverage on shares of Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 price target for the company. Piper Sandler began coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. BMO Capital Markets decreased their target price on Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Finally, Robert W. Baird boosted their target price on Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $45.41.

Rubrik Trading Up 1.3 %

NYSE:RBRK opened at $43.79 on Monday. Rubrik has a 52 week low of $28.34 and a 52 week high of $45.90. The firm has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $34.57.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. Equities analysts forecast that Rubrik will post -8.04 earnings per share for the current year.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $44.48, for a total value of $444,800.00. Following the sale, the chief financial officer now directly owns 385,360 shares of the company’s stock, valued at $17,140,812.80. This trade represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $41.39, for a total transaction of $1,034,750.00. Following the completion of the transaction, the executive now directly owns 387,545 shares of the company’s stock, valued at approximately $16,040,487.55. This represents a 6.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 454,512 shares of company stock worth $15,813,462 in the last three months.

Institutional Trading of Rubrik

A number of hedge funds have recently bought and sold shares of the company. Diversified Trust Co purchased a new position in shares of Rubrik during the third quarter worth approximately $432,000. Davidson Kempner Capital Management LP purchased a new position in Rubrik in the 2nd quarter worth $2,606,000. Bank of Montreal Can bought a new stake in Rubrik in the second quarter worth $427,000. ARK Investment Management LLC bought a new position in shares of Rubrik during the second quarter valued at about $6,043,000. Finally, EPIQ Capital Group LLC purchased a new position in shares of Rubrik in the second quarter worth about $15,111,000.

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.