Rubrik (NYSE:RBRK) Reaches New 52-Week High – Here’s What Happened

Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high on Tuesday . The company traded as high as $41.38 and last traded at $41.24, with a volume of 91753 shares trading hands. The stock had previously closed at $40.58.

Wall Street Analyst Weigh In

RBRK has been the topic of a number of recent research reports. Truist Financial reiterated a “buy” rating and set a $43.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. Wells Fargo & Company cut their target price on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. BMO Capital Markets reduced their target price on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. FBN Securities began coverage on shares of Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Citigroup increased their price objective on Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Sixteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $44.65.

Rubrik Stock Performance

The firm has a 50-day moving average of $34.95.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. Analysts forecast that Rubrik, Inc. will post -7.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kiran Kumar Choudary sold 1,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the completion of the sale, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at approximately $16,668,564. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at approximately $16,668,564. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 391,412 shares of company stock valued at $13,162,625 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Stephens Investment Management Group LLC lifted its holdings in shares of Rubrik by 3.5% during the third quarter. Stephens Investment Management Group LLC now owns 264,345 shares of the company’s stock worth $8,499,000 after purchasing an additional 8,903 shares during the period. Diversify Wealth Management LLC acquired a new stake in shares of Rubrik in the 3rd quarter worth $1,808,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Rubrik in the 3rd quarter worth $208,000. Legacy Capital Group California Inc. purchased a new stake in shares of Rubrik in the third quarter valued at about $2,419,000. Finally, Renaissance Capital LLC increased its stake in shares of Rubrik by 190.1% during the third quarter. Renaissance Capital LLC now owns 60,061 shares of the company’s stock worth $1,931,000 after acquiring an additional 39,354 shares during the period.

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.