KeyCorp Boosts Rubrik (NYSE:RBRK) Price Target to $87.00

Rubrik (NYSE:RBRK) had its target price lifted by KeyCorp from $75.00 to $87.00 in a research note published on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Guggenheim increased their price objective on shares of Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer assumed coverage on Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Wells Fargo & Company raised their target price on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Piper Sandler boosted their price target on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, William Blair initiated coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.33.

Rubrik Stock Down 5.2 %

Shares of RBRK stock opened at $72.98 on Tuesday. Rubrik has a 1-year low of $28.34 and a 1-year high of $79.05. The company has a 50-day moving average of $68.78 and a two-hundred day moving average of $48.52.

Insider Buying and Selling at Rubrik

In other news, 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 value of $444,800.00. Following the completion of the transaction, the chief financial officer now owns 385,360 shares in the company, valued at approximately $17,140,812.80. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive now owns 337,545 shares in the company, valued at $16,877,250. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 656,434 shares of company stock worth $42,599,751 over the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in Rubrik in the third quarter valued at approximately $25,000. Global Retirement Partners LLC raised its position in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. Rhumbline Advisers acquired a new stake in Rubrik during the 4th quarter worth $64,000. Geneos Wealth Management Inc. purchased a new position in Rubrik during the 4th quarter worth $70,000. Finally, KBC Group NV acquired a new position in Rubrik in the third quarter valued at $72,000. 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.