KeyCorp Cuts Rubrik (NYSE:RBRK) Price Target to $82.00

Rubrik (NYSE:RBRK) had its target price cut by KeyCorp from $87.00 to $82.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. William Blair initiated coverage on Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. Wells Fargo & Company increased their target price on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday. Guggenheim reissued a “buy” rating and set a $76.00 price objective on shares of Rubrik in a report on Wednesday, February 26th. Citigroup boosted their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Robert W. Baird lowered their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rubrik currently has a consensus rating of “Buy” and an average price target of $69.78.

Rubrik Stock Performance

RBRK stock opened at $70.54 on Friday. The company’s fifty day simple moving average is $68.27 and its 200 day simple moving average is $53.78. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same period last year, the firm earned ($1.59) earnings per share. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. Sell-side analysts expect that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In related news, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were 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 in the company, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $68.03, for a total value of $122,454.00. Following the sale, the chief financial officer now owns 343,774 shares in the company, valued at $23,386,945.22. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 625,712 shares of company stock valued at $41,583,311 in the last 90 days.

Institutional Trading of Rubrik

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Centaurus Financial Inc. purchased a new stake in shares of Rubrik in the 4th quarter valued at $115,000. PharVision Advisers LLC purchased a new stake in Rubrik during the 4th quarter valued at about $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Rubrik by 168.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company’s stock worth $43,610,000 after purchasing an additional 418,457 shares during the period. Voloridge Investment Management LLC bought a new stake in Rubrik in the fourth quarter valued at approximately $85,331,000. Finally, Washington Harbour Partners LP purchased a new stake in shares of Rubrik during the fourth quarter valued at approximately $4,235,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.