Rubrik (NYSE:RBRK) Receives New Coverage from Analysts at FBN Securities

Equities research analysts at FBN Securities started coverage on shares of Rubrik (NYSE:RBRK) in a note issued to investors on Monday, Benzinga reports. The firm set an “outperform” rating and a $40.00 price target on the stock. FBN Securities’ target price would indicate a potential upside of 27.55% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Guggenheim reiterated a “buy” rating and issued a $48.00 target price on shares of Rubrik in a research report on Tuesday, June 25th. BMO Capital Markets lowered their target price on Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. KeyCorp increased their target price on Rubrik from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, June 12th. Baird R W raised Rubrik to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Truist Financial reiterated a “buy” rating and issued a $43.00 price objective on shares of Rubrik in a research report on Tuesday, September 10th. Sixteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $44.41.

Rubrik Trading Down 2.5 %

Shares of NYSE RBRK opened at $31.36 on Monday. Rubrik has a one year low of $28.34 and a one year high of $40.00. The company’s 50 day simple moving average is $33.14.

Insider Activity at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now directly owns 56,736 shares in the company, valued at approximately $1,857,536.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders have sold 272,529 shares of company stock worth $8,664,277 over the last 90 days.

Institutional Investors Weigh In On Rubrik

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC bought a new position in shares of Rubrik during the second quarter valued at $47,523,000. Clearbridge Investments LLC purchased a new stake in Rubrik during the 2nd quarter valued at about $32,888,000. EPIQ Capital Group LLC purchased a new stake in Rubrik during the 2nd quarter valued at about $15,111,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rubrik during the 2nd quarter valued at about $7,665,000. Finally, Zweig DiMenna Associates LLC purchased a new position in Rubrik in the second quarter worth about $6,730,000.

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.