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

Rubrik (NYSE:RBRK) had its price target lifted by equities research analysts at KeyCorp from $75.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 15.45% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Guggenheim boosted their price target on Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler boosted their target price on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Oppenheimer assumed coverage on Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Citigroup lifted their price objective on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Barclays increased their price target on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.33.

Rubrik Stock Performance

Shares of RBRK traded down $1.61 during midday trading on Tuesday, reaching $75.36. The stock had a trading volume of 204,265 shares, compared to its average volume of 2,090,951. The firm has a 50 day simple moving average of $68.33 and a 200-day simple moving average of $48.25. Rubrik has a one year low of $28.34 and a one year high of $79.05.

Insider Transactions at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,499 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $67.66, for a total transaction of $2,198,882.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $44.48, for a total transaction of $444,800.00. Following the completion of the sale, the chief financial officer now directly owns 385,360 shares in the company, valued at approximately $17,140,812.80. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 656,434 shares of company stock worth $42,599,751.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in shares of Rubrik by 6.9% during the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after purchasing an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rubrik during the 3rd quarter worth approximately $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Rubrik by 24.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock worth $7,998,000 after buying an additional 49,372 shares during the period. Renaissance Capital LLC lifted its position in shares of Rubrik by 21.2% during the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock valued at $4,757,000 after acquiring an additional 12,714 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Rubrik during the third quarter worth $336,000. 49.54% of the stock is owned by institutional investors.

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.