Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Rubrik (NYSE:RBRK) had its price objective upped by research analysts at Piper Sandler from $72.00 to $83.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 25.59% from the company’s previous close.

Several other equities analysts have also recently commented on RBRK. Mizuho increased their price target on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rosenblatt Securities assumed coverage on Rubrik in a report on Tuesday. They set a “neutral” rating and a $77.00 target price on the stock. CIBC boosted 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. BMO Capital Markets raised their price objective on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, FBN Securities started coverage on shares of Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $64.11.

Rubrik Price Performance

RBRK stock traded down $1.96 during midday trading on Thursday, hitting $66.09. 1,735,274 shares of the company’s stock were exchanged, compared to its average volume of 1,716,975. The firm has a 50 day moving average price of $48.80 and a 200-day moving average price of $38.36. Rubrik has a 12-month low of $28.34 and a 12-month high of $75.79.

Insider Activity at Rubrik

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $31.25, for a total transaction of $781,250.00. Following the sale, the executive now directly owns 437,545 shares of the company’s stock, valued at $13,673,281.25. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kiran Kumar Choudary sold 45,800 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $39.22, for a total value of $1,796,276.00. Following the sale, the chief financial officer now directly owns 448,560 shares of the company’s stock, valued at approximately $17,592,523.20. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 460,779 shares of company stock valued at $19,043,557 over the last 90 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. EFG Asset Management North America Corp. purchased a new position in Rubrik during the 2nd quarter valued at about $925,000. ARK Investment Management LLC purchased a new position in Rubrik during the second quarter valued at approximately $6,043,000. Cisco Systems Inc. acquired a new position in Rubrik in the 2nd quarter valued at approximately $5,613,000. Commonwealth Equity Services LLC purchased a new stake in Rubrik in the 2nd quarter worth approximately $503,000. Finally, Natixis Advisors LLC purchased a new stake in Rubrik in the 2nd quarter worth approximately $406,000. 49.54% of the stock is owned by institutional investors and hedge funds.

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.