Mizuho Forecasts Strong Price Appreciation for Rubrik (NYSE:RBRK) Stock

Rubrik (NYSE:RBRK) had its price objective lifted by research analysts at Mizuho from $75.00 to $82.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 8.59% from the stock’s current price.

A number of other equities analysts have also weighed in on RBRK. Truist Financial upped their target price on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer began coverage on Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. KeyCorp increased their price target on Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Barclays increased their price target on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Guggenheim increased their price target on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One 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. According to MarketBeat, Rubrik has an average rating of “Buy” and a consensus target price of $62.71.

Rubrik Stock Up 4.6 %

Shares of NYSE:RBRK opened at $75.51 on Tuesday. Rubrik has a twelve month low of $28.34 and a twelve month high of $75.79. The stock’s 50 day moving average is $47.40 and its 200-day moving average is $37.86.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the transaction, the chief financial officer now owns 493,360 shares in the company, valued at $15,496,437.60. This trade represents a 9.52 % decrease in their position. The sale was disclosed in a document filed 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 dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $13,673,281.25. This represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 560,779 shares of company stock worth $22,317,557 in the last quarter.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently modified their holdings of the business. Dragoneer Investment Group LLC purchased a new stake in shares of Rubrik in the 2nd quarter valued at about $47,523,000. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik in the 3rd quarter valued at about $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik in the 3rd quarter valued at about $42,247,000. PointState Capital LP purchased a new stake in shares of Rubrik in the 3rd quarter valued at about $40,466,000. Finally, Institutional Venture Management XV LLC raised its holdings in shares of Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after acquiring an additional 1,131,360 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.