Rubrik (NYSE:RBRK) Price Target Raised to $57.00 at KeyCorp

Rubrik (NYSE:RBRK) had its price objective upped by KeyCorp from $48.00 to $57.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on RBRK. Barclays upped their price target on shares of Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday. Cantor Fitzgerald upgraded shares of Rubrik to a “strong-buy” rating in a report on Wednesday. Guggenheim increased their target price on shares of Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. FBN Securities assumed coverage on shares of Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Truist Financial increased their target price on shares of Rubrik from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Rubrik currently has an average rating of “Buy” and an average price target of $46.71.

Rubrik Price Performance

RBRK opened at $51.19 on Friday. The firm has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $34.82. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $51.58.

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

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $50.38, for a total transaction of $1,259,500.00. Following the transaction, the executive now directly owns 362,545 shares of the company’s stock, valued at approximately $18,265,017.10. This trade represents a 6.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $50.31, for a total transaction of $503,100.00. Following the transaction, the chief financial officer now directly owns 374,560 shares in the company, valued at approximately $18,844,113.60. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,312 shares of company stock valued at $17,657,062.

Institutional Investors Weigh In On Rubrik

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

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.