Robert W. Baird Issues Pessimistic Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its price target lowered by stock analysts at Robert W. Baird from $83.00 to $76.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 40.69% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. William Blair began coverage on Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating on the stock. Mizuho increased their price objective on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. BMO Capital Markets boosted their target price on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Citigroup raised their price target on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Piper Sandler boosted their price objective on shares of Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $66.72.

Rubrik Stock Performance

Shares of RBRK opened at $54.02 on Wednesday. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00. The company has a 50-day moving average of $68.59 and a two-hundred day moving average of $53.23.

Insider Transactions at Rubrik

In related news, CRO Brian K. Mccarthy sold 28,485 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total transaction of $2,060,604.90. Following the completion of the sale, the executive now directly owns 346,560 shares of the company’s stock, valued at approximately $25,070,150.40. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 227,596 shares of Rubrik stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at $14,229,014.31. This trade represents a 50.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 625,712 shares of company stock valued at $41,583,311 over the last 90 days.

Institutional Trading of Rubrik

Several large investors have recently modified their holdings of the business. PharVision Advisers LLC acquired a new position in shares of Rubrik in the fourth quarter worth about $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Rubrik by 168.2% during 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 last quarter. Voloridge Investment Management LLC acquired a new position in shares of Rubrik in the 4th quarter valued at approximately $85,331,000. Washington Harbour Partners LP purchased a new position in shares of Rubrik during the 4th quarter valued at approximately $4,235,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Rubrik during the 4th quarter valued at approximately $18,693,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.