Rubrik (NYSE:RBRK) Hits New 12-Month High – What’s Next?

Rubrik, Inc. (NYSE:RBRK) reached a new 52-week high on Tuesday . The company traded as high as $89.00 and last traded at $88.31, with a volume of 467862 shares. The stock had previously closed at $86.72.

Analyst Upgrades and Downgrades

RBRK has been the topic of several research analyst reports. Rosenblatt Securities upgraded shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, March 12th. Mizuho cut shares of Rubrik from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $86.00 in a research report on Thursday, May 15th. BMO Capital Markets upped their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Piper Sandler lowered their price objective on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group reissued a “buy” rating on shares of Rubrik in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $71.05.

Rubrik Price Performance

The stock has a market cap of $16.89 billion and a price-to-earnings ratio of -6.45. The business’s 50 day moving average is $67.66 and its 200 day moving average is $64.62.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $233.13 million. Rubrik’s revenue was up 47.5% compared to the same quarter last year. During the same period last year, the business earned ($1.59) earnings per share. As a group, analysts forecast that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insider Activity at Rubrik

In related news, CFO Kiran Kumar Choudary sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.81, for a total value of $293,335.00. Following the completion of the sale, the chief financial officer now directly owns 565,165 shares of the company’s stock, valued at $47,366,478.65. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Wendell Thompson sold 9,009 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $63.18, for a total value of $569,188.62. Following the transaction, the director now owns 998 shares in the company, valued at $63,053.64. This represents a 90.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 592,117 shares of company stock valued at $40,192,998 over the last three months.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC increased its holdings in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after acquiring an additional 300 shares during the period. Diversify Wealth Management LLC increased its stake in Rubrik by 2.2% in the fourth quarter. Diversify Wealth Management LLC now owns 57,499 shares of the company’s stock valued at $3,649,000 after purchasing an additional 1,249 shares during the period. Perpetual Ltd purchased a new stake in shares of Rubrik in the fourth quarter valued at about $281,000. Geneos Wealth Management Inc. purchased a new stake in shares of Rubrik in the fourth quarter valued at about $70,000. Finally, Stablepoint Partners LLC acquired a new stake in shares of Rubrik during the fourth quarter worth about $788,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.