Rubrik (NYSE:RBRK) Hits New 1-Year High - Here's What Happened

Key Points

• Rubrik shares reached a new 52-week high, trading as high as $116.50 and closing near $115.51. The stock has a $24.03 billion market capitalization and trades above its 50-day and 200-day moving averages.
• Analyst sentiment is strongly positive, with 28 Buy ratings and one Sell rating; the average price target is $114.42, while recent targets range as high as $130.
• Rubrik exceeded quarterly expectations, reporting $0.20 in EPS versus estimates of $0.04 and revenue of $427.26 million, up 43.9% year over year. Institutional ownership also increased, although insiders sold about $11.2 million of shares during the latest quarter.

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday. The stock traded as high as $116.50 and last traded at $115.5120, with a volume of 140667 shares. The stock had previously closed at $114.77.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho raised their target price on shares of Rubrik from $90.00 to $112.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Citigroup raised their price objective on shares of Rubrik from $96.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Loop Capital initiated coverage on Rubrik in a report on Monday, August 3rd. They issued a "buy" rating and a $100.00 price objective on the stock. Barclays increased their target price on Rubrik from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Finally, Jefferies Financial Group set a $90.00 price target on Rubrik in a report on Friday, June 5th. Twenty-eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rubrik presently has an average rating of "Moderate Buy" and an average target price of $114.42.

Rubrik Stock Up 1.0%

The company has a market capitalization of $24.03 billion, a price-to-earnings ratio of -92.09 and a beta of 1.24. The stock has a fifty day moving average price of $94.05 and a two-hundred day moving average price of $74.78.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.16. The company had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm's revenue was up 43.9% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. As a group, research analysts forecast that Rubrik, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kiran Choudary sold 6,000 shares of Rubrik stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $107.32, for a total transaction of $643,920.00. Following the completion of the sale, the chief financial officer directly owned 958,078 shares in the company, valued at $102,820,930.96. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yvonne Wassenaar sold 721 shares of Rubrik stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $89.52, for a total transaction of $64,543.92. Following the sale, the director owned 3,709 shares of the company's stock, valued at approximately $332,029.68. This trade represents a 16.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 129,341 shares of company stock valued at $11,244,816 over the last quarter. 13.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Rubrik during the 4th quarter valued at $345,907,000. Pictet Asset Management Holding SA raised its position in shares of Rubrik by 104.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock worth $162,572,000 after buying an additional 1,696,342 shares during the period. SG Americas Securities LLC raised its position in shares of Rubrik by 1,284.7% in the 1st quarter. SG Americas Securities LLC now owns 1,171,286 shares of the company's stock worth $57,358,000 after buying an additional 1,086,697 shares during the period. BNP Paribas Financial Markets boosted its holdings in Rubrik by 101.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,192,108 shares of the company's stock valued at $91,172,000 after acquiring an additional 599,000 shares during the last quarter. Finally, Amundi boosted its holdings in Rubrik by 449.5% in the first quarter. Amundi now owns 561,496 shares of the company's stock valued at $27,496,000 after acquiring an additional 459,314 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Company Profile

Rubrik, Inc is a cybersecurity and data management company that helps organizations protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to support data backup, recovery, security monitoring and cyber resilience.

The company's primary offering is Rubrik Security Cloud, a cloud-delivered platform that provides data protection and security capabilities, including policy-based backup, immutable data protection, ransomware recovery, threat monitoring and centralized management.

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