Rubrik (NYSE:RBRK) Reaches New 52-Week High - Here's What Happened

Key Points

• Rubrik shares reached a new 52-week high, trading as high as $108.97 and last changing hands near $107.46, giving the company a market capitalization of approximately $22.16 billion.
• Analysts remain broadly optimistic, with 28 Buy ratings and one Sell rating; the consensus rating is “Moderate Buy” with an average price target of $113.31, while several firms recently raised their targets.
• Rubrik’s latest quarterly results exceeded expectations: adjusted earnings were $0.20 per share versus $0.04 expected, revenue reached $427.26 million, and sales grew 43.9% year over year. Insiders have sold $11.7 million worth of shares over the past 90 days, though the transactions were made under pre-arranged trading plans.

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $108.97 and last traded at $107.4610, with a volume of 1443611 shares changing hands. The stock had previously closed at $104.98.

Analyst Ratings Changes

Several research firms have recently commented on RBRK. UBS Group restated a "buy" rating and set a $106.00 price target on shares of Rubrik in a research report on Wednesday, August 19th. Cantor Fitzgerald restated an "overweight" rating and set a $120.00 target price on shares of Rubrik in a report on Friday, August 28th. Truist Financial boosted their price target on shares of Rubrik from $90.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Rosenblatt Securities increased their price target on shares of Rubrik from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, August 26th. Finally, Barclays lifted their price objective on shares of Rubrik from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Twenty-eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $113.31.

Rubrik Stock Performance

The business has a 50-day simple moving average of $88.68 and a 200-day simple moving average of $71.20. The company has a market cap of $22.16 billion, a price-to-earnings ratio of -84.82 and a beta of 1.24.

Rubrik (NYSE:RBRK - Get Free Report) last released its earnings results on Thursday, August 27th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.16. The firm had revenue of $427.26 million for the quarter, compared to analysts' expectations of $396.30 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The firm's quarterly 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. Research analysts anticipate that Rubrik, Inc. will post -1.19 EPS for the current year.

Insider Activity

In other Rubrik news, CTO Arvind Nithrakashyap sold 12,820 shares of Rubrik stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $90.41, for a total transaction of $1,159,056.20. Following the completion of the sale, the chief technology officer directly owned 293,293 shares of the company's stock, valued at $26,516,620.13. The trade was a 4.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Thompson sold 11,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $89.03, for a total value of $979,330.00. Following the transaction, the director directly owned 8,362 shares of the company's stock, valued at approximately $744,468.86. This represents a 56.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 138,217 shares of company stock valued at $11,706,692 in the last 90 days. Company insiders own 13.66% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RBRK. Essential Partners LLC increased its position in Rubrik by 99.3% in the 1st quarter. Essential Partners LLC now owns 570 shares of the company's stock valued at $28,000 after acquiring an additional 284 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Rubrik in the first quarter valued at approximately $46,000. Markowski Investments purchased a new stake in shares of Rubrik in the second quarter valued at approximately $48,000. EverSource Wealth Advisors LLC grew its holdings in Rubrik by 256.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,476 shares of the company's stock worth $72,000 after acquiring an additional 1,062 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Rubrik by 54.6% during the second quarter. Versant Capital Management Inc now owns 926 shares of the company's stock worth $74,000 after acquiring an additional 327 shares during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Company Profile

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

The company's principal offering, Rubrik Security Cloud, provides centralized capabilities for data protection and cyber recovery. The platform helps organizations identify sensitive data, monitor for threats, maintain secure backups and restore systems following events such as ransomware attacks, operational failures or other disruptions.

Rubrik was founded in 2014 by Bipul Sinha, Arvind Nithrakashyap and Soham Mazumdar.

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