Rubrik (NYSE:RBRK) Receives “Overweight” Rating from Cantor Fitzgerald

Rubrik (NYSE:RBRK)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports. They currently have a $85.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 20.50% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Truist Financial raised their price objective on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. KeyCorp raised their price objective on Rubrik from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Piper Sandler raised their price objective on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Barclays raised their price objective on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company raised their price objective on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Rubrik has an average rating of “Buy” and an average target price of $69.78.

Rubrik Stock Up 27.6 %

Shares of RBRK stock opened at $70.54 on Friday. The stock’s fifty day moving average price is $68.27 and its two-hundred day moving average price is $53.64. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. During the same quarter in the previous year, the company posted ($1.59) earnings per share. The business’s quarterly revenue was up 47.5% on a year-over-year basis. As a group, analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Insider Transactions at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 153 shares of the company’s stock, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $68.03, for a total value of $122,454.00. Following the completion of the transaction, the chief financial officer now directly owns 343,774 shares of the company’s stock, valued at approximately $23,386,945.22. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,712 shares of company stock valued at $41,583,311.

Institutional Trading of Rubrik

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Rubrik during the fourth quarter worth about $277,395,000. Vanguard Group Inc. lifted its holdings in Rubrik by 114.1% during the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after acquiring an additional 3,372,323 shares during the period. FMR LLC boosted its position in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik during the 3rd quarter valued at $44,418,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the 3rd quarter valued at $42,247,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.