Rubrik (NYSE:RBRK) Reaches New 12-Month High – Time to Buy?

Shares of Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high on Thursday . The company traded as high as $76.21 and last traded at $74.33, with a volume of 375363 shares trading hands. The stock had previously closed at $74.11.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RBRK shares. Truist Financial lifted their target price on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird lifted their price objective on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Cantor Fitzgerald increased their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Guggenheim increased their price target on Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $64.67.

Rubrik Trading Down 0.6 %

The firm’s 50 day simple moving average is $64.44 and its 200-day simple moving average is $45.93.

Insider Activity at Rubrik

In related news, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $43.15, for a total value of $77,670.00. Following the completion of the sale, the chief financial officer now owns 406,160 shares of the company’s stock, valued at approximately $17,525,804. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $41.39, for a total transaction of $1,034,750.00. Following the transaction, the executive now directly owns 387,545 shares in the company, valued at $16,040,487.55. This trade represents a 6.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 594,255 shares of company stock valued at $37,016,628.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently made changes to their positions in RBRK. Champlain Investment Partners LLC acquired a new stake in shares of Rubrik in the third quarter valued at $44,418,000. Point72 Asset Management L.P. acquired a new position in Rubrik in the 3rd quarter valued at about $42,247,000. PointState Capital LP purchased a new stake in Rubrik during the third quarter worth about $40,466,000. Institutional Venture Management XV LLC lifted its position in shares of Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after purchasing an additional 1,131,360 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Rubrik in the third quarter valued at approximately $35,359,000. 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.