Rubrik, Inc. (NYSE:RBRK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK) have received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $100.38.

Several equities analysts have issued reports on the stock. BMO Capital Markets restated an “outperform” rating and issued a $110.00 price target (up from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Wall Street Zen raised shares of Rubrik from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Guggenheim increased their target price on shares of Rubrik from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Oppenheimer reissued a “market perform” rating on shares of Rubrik in a research note on Friday, June 6th. Finally, KeyCorp reissued an “overweight” rating and set a $113.00 target price (up from $98.00) on shares of Rubrik in a research note on Friday, June 6th.

Insider Buying and Selling at Rubrik

In other news, CTO Arvind Nithrakashyap sold 43,128 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $88.56, for a total value of $3,819,415.68. Following the completion of the sale, the chief technology officer owned 38,122 shares in the company, valued at $3,376,084.32. This represents a 53.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $90.10, for a total transaction of $2,252,500.00. Following the completion of the sale, the executive owned 504,584 shares of the company’s stock, valued at approximately $45,463,018.40. This represents a 4.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,229,515 shares of company stock worth $109,999,877. Corporate insiders own 32.38% of the company’s stock.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the company. Truist Financial Corp purchased a new stake in Rubrik during the second quarter worth about $275,000. Renaissance Capital LLC increased its holdings in Rubrik by 28.5% during the second quarter. Renaissance Capital LLC now owns 72,871 shares of the company’s stock worth $6,529,000 after buying an additional 16,156 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Rubrik during the second quarter worth about $5,187,000. Janney Montgomery Scott LLC purchased a new stake in Rubrik during the second quarter worth about $633,000. Finally, Smith Anglin Financial LLC increased its holdings in Rubrik by 33.8% during the second quarter. Smith Anglin Financial LLC now owns 8,262 shares of the company’s stock worth $740,000 after buying an additional 2,085 shares during the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Rubrik Price Performance

RBRK stock opened at $88.02 on Friday. The company has a 50 day simple moving average of $89.61 and a 200 day simple moving average of $74.81. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of -31.10 and a beta of 0.46. Rubrik has a 1 year low of $28.60 and a 1 year high of $103.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. During the same quarter last year, the company posted ($1.58) earnings per share. The company’s revenue was up 48.7% compared to the same quarter last year. On average, equities research analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

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.