Rubrik (NYSE:RBRK) Now Covered by Oppenheimer

Oppenheimer initiated coverage on shares of Rubrik (NYSE:RBRK) in a research report report published on Wednesday, MarketBeat Ratings reports. The firm issued a market perform rating on the stock.

Several other analysts have also recently commented on RBRK. Robert W. Baird increased their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price objective on Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 target price on shares of Rubrik in a research report on Tuesday, September 10th. CIBC upped their price target on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. Finally, Citigroup lifted their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $45.00.

Rubrik Stock Down 2.8 %

RBRK stock opened at $43.24 on Wednesday. The business has a fifty day moving average price of $37.18 and a 200 day moving average price of $34.49. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $45.90.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. Equities analysts anticipate that Rubrik will post -8.04 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the completion of the sale, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at approximately $16,668,564. This represents a 0.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on 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. In the last quarter, insiders have sold 444,512 shares of company stock valued at $15,368,662.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik during the second quarter worth about $47,523,000. Champlain Investment Partners LLC bought a new stake in Rubrik in the 3rd quarter valued at approximately $44,418,000. Point72 Asset Management L.P. acquired a new position in Rubrik during the 3rd quarter worth approximately $42,247,000. PointState Capital LP bought a new position in shares of Rubrik during the 3rd quarter worth approximately $40,466,000. Finally, Institutional Venture Management XV LLC raised its holdings in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares during the last quarter.

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.