Rubrik (NYSE:RBRK) Sets New 52-Week High – Still a Buy?

Rubrik, Inc. (NYSE:RBRK)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $79.05 and last traded at $76.78, with a volume of 867746 shares changing hands. The stock had previously closed at $75.34.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RBRK. Citigroup lifted their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Guggenheim increased their target price on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler boosted their price target on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. KeyCorp increased their price objective on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Robert W. Baird upped their target price 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. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.67.

Rubrik Price Performance

The stock’s 50-day moving average is $67.31 and its 200 day moving average is $47.50.

Insider Transactions at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.94, for a total transaction of $1,773,500.00. Following the sale, the executive now owns 381,043 shares of the company’s stock, valued at approximately $27,031,190.42. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 153 shares of the company’s stock, valued at $10,342.80. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 659,104 shares of company stock worth $42,720,088 in the last three months.

Institutional Trading of Rubrik

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC raised 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 worth $683,000 after acquiring an additional 300 shares during the last quarter. KBC Group NV grew its stake in Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after buying an additional 430 shares in the last quarter. Global Retirement Partners LLC grew its position in Rubrik by 8,333.3% during 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 last quarter. Brown Brothers Harriman & Co. bought a new position in Rubrik during the 3rd quarter worth approximately $25,000. Finally, Hamilton Lane Advisors LLC raised its stake in shares of Rubrik by 3.0% during the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock valued at $2,224,000 after acquiring an additional 980 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.