Rubrik (NYSE:RBRK) Now Covered by Analysts at Oppenheimer

Equities researchers at Oppenheimer began coverage on shares of Rubrik (NYSE:RBRK) in a report released on Wednesday, MarketBeat.com reports. The firm set a “market perform” rating on the stock.

Several other brokerages have also recently issued reports on RBRK. Citigroup lifted their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Piper Sandler initiated coverage on shares of Rubrik in a research report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. BMO Capital Markets dropped their target price on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Wells Fargo & Company reduced their price target on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Robert W. Baird raised their price objective on shares of Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $45.00.

Rubrik Stock Down 0.2 %

NYSE:RBRK opened at $44.50 on Wednesday. The firm’s fifty day simple moving average is $36.93 and its 200-day simple moving average is $34.41. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $45.90.

Rubrik (NYSE:RBRK) last issued its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. As a group, analysts forecast that Rubrik will post -7.94 EPS for the current year.

Insider Buying and Selling

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the transaction, the executive now owns 437,545 shares in the company, valued at approximately $13,673,281.25. This trade represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,512 shares of company stock valued at $15,368,662.

Institutional Trading of Rubrik

A number of institutional investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. purchased a new position in Rubrik in the third quarter valued at about $25,000. KBC Group NV bought a new stake in shares of Rubrik in the third quarter worth $72,000. Quent Capital LLC acquired a new stake in Rubrik in the third quarter valued at $192,000. Mount Yale Investment Advisors LLC bought a new position in Rubrik during the 3rd quarter valued at $208,000. Finally, Register Financial Advisors LLC acquired a new position in Rubrik during the 2nd quarter worth $227,000.

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.