Rubrik (NYSE:RBRK) Rating Increased to Buy at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Rubrik (NYSE:RBRK) from a neutral rating to a buy rating in a research note published on Wednesday morning, MarketBeat Ratings reports. Rosenblatt Securities currently has $77.00 target price on the stock.

RBRK has been the topic of a number of other research reports. Robert W. Baird increased their price target on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. KeyCorp increased their price target on Rubrik from $75.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Barclays increased their price target on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets increased their price target on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Citigroup increased their price target on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $66.72.

Rubrik Trading Up 6.2 %

Shares of RBRK opened at $57.17 on Wednesday. The business’s fifty day moving average price is $68.42 and its two-hundred day moving average price is $53.26. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00.

Insider Buying and Selling at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,499 shares of Rubrik stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction dated 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 sale, the director now directly owns 153 shares in the company, valued at $10,342.80. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 625,712 shares of company stock valued at $41,583,311 in the last 90 days.

Hedge Funds Weigh In On Rubrik

Several hedge funds have recently modified their holdings of RBRK. Norges Bank bought a new position in shares of Rubrik in the 4th quarter valued at about $277,395,000. Vanguard Group Inc. grew its holdings in shares of Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after acquiring an additional 3,372,323 shares in the last quarter. FMR LLC grew its holdings in shares of Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after acquiring an additional 2,065,444 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Rubrik in the 3rd quarter valued at about $44,418,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Rubrik in the 3rd quarter valued at about $42,247,000. 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.