Rubrik (NYSE:RBRK) Earns “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Rubrik (NYSE:RBRK) in a research report released on Wednesday,Benzinga reports. The firm currently has a $76.00 price objective on the stock.

Several other brokerages also recently weighed in on RBRK. Mizuho upped their price objective on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Oppenheimer initiated coverage on Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. Piper Sandler increased their target price on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. William Blair initiated coverage on Rubrik in a research report on Friday, February 7th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company increased their target price on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Three 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.56.

Rubrik Stock Performance

Shares of RBRK stock opened at $65.72 on Wednesday. Rubrik has a twelve month low of $28.34 and a twelve month high of $80.00. The business has a fifty day simple moving average of $69.98 and a 200 day simple moving average of $51.49.

Insider Activity

In related news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $51.51, for a total transaction of $92,718.00. Following the completion of the sale, the chief financial officer now owns 372,960 shares of the company’s stock, valued at $19,211,169.60. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 610,334 shares of company stock valued at $40,413,942.

Institutional Investors Weigh In On Rubrik

Several large investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. acquired a new stake in Rubrik during the third quarter worth approximately $25,000. Russell Investments Group Ltd. acquired a new stake in Rubrik in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC grew its stake in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Nemes Rush Group LLC acquired a new stake in Rubrik in the fourth quarter valued at approximately $39,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Rubrik in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds 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.