Oppenheimer Initiates Coverage on Rubrik (NYSE:RBRK)

Oppenheimer assumed coverage on shares of Rubrik (NYSE:RBRK) in a research note issued on Wednesday,Benzinga reports. The brokerage set a “market perform” rating on the stock.

A number of other brokerages also recently issued reports on RBRK. CIBC upped their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research report on Tuesday, September 10th. BMO Capital Markets cut their price target on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Robert W. Baird raised their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial reissued a “buy” rating and issued a $43.00 price target on shares of Rubrik in a research report on Tuesday, September 10th. Finally, Citigroup boosted their price target on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Rubrik presently has a consensus rating of “Buy” and an average target price of $45.00.

Rubrik Stock Up 1.1 %

Shares of Rubrik stock opened at $44.81 on Wednesday. Rubrik has a one year low of $28.34 and a one year high of $45.90. The stock’s fifty day moving average is $36.44 and its 200 day moving average is $34.27.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. On average, equities analysts expect that Rubrik will post -7.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now directly owns 423,060 shares in the company, valued at $16,668,564. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $41.39, for a total value of $1,034,750.00. Following the completion of the transaction, the executive now owns 387,545 shares of the company’s stock, valued at $16,040,487.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 1,500 shares of Rubrik stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $39.40, for a total value of $59,100.00. Following the completion of the transaction, the chief financial officer now owns 423,060 shares in the company, valued at approximately $16,668,564. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 444,512 shares of company stock valued at $15,368,662 in the last 90 days.

Institutional Trading of Rubrik

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Diversified Trust Co bought a new stake in Rubrik in the third quarter valued at approximately $432,000. Davidson Kempner Capital Management LP purchased a new stake in Rubrik in the 2nd quarter valued at $2,606,000. Bank of Montreal Can bought a new position in Rubrik in the 2nd quarter valued at $427,000. ARK Investment Management LLC bought a new position in Rubrik in the 2nd quarter valued at $6,043,000. Finally, EPIQ Capital Group LLC bought a new position in Rubrik in the 2nd quarter valued at $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.