Rubrik (NYSE:RBRK) Hits New 1-Year High – Still a Buy?

Rubrik, Inc. (NYSE:RBRK) shares reached a new 52-week high during trading on Monday . The stock traded as high as $75.29 and last traded at $75.22, with a volume of 2041492 shares traded. The stock had previously closed at $72.18.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. KeyCorp boosted their price objective on Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, December 6th. CIBC increased their price target on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research report on Tuesday, September 10th. Mizuho raised their price objective on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday. Truist Financial upped their target price on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets boosted their price target on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research note 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 stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $63.50.

Rubrik Stock Performance

The stock’s 50 day moving average price is $48.80 and its two-hundred day moving average price is $38.36.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of Rubrik stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares in the company, valued at $14,486,909.40. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $69.70, for a total transaction of $125,460.00. Following the transaction, the chief financial officer now owns 342,160 shares in the company, valued at approximately $23,848,552. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 560,779 shares of company stock valued at $22,317,557.

Hedge Funds Weigh In On Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dragoneer Investment Group LLC purchased a new stake in shares of Rubrik during the 2nd quarter valued at $47,523,000. Champlain Investment Partners LLC acquired a new position in Rubrik in the third quarter valued at $44,418,000. Point72 Asset Management L.P. purchased a new stake in Rubrik during the third quarter valued at about $42,247,000. PointState Capital LP acquired a new stake in Rubrik during the third quarter worth about $40,466,000. Finally, Institutional Venture Management XV LLC lifted its stake in shares of Rubrik by 3,620.4% in the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares in the last quarter. Institutional investors and hedge funds 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.