Rubrik (NYSE:RBRK) Hits New 1-Year High - Should You Buy?

Shares of Rubrik, Inc. (NYSE:RBRK - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $98.10 and last traded at $97.62, with a volume of 765295 shares traded. The stock had previously closed at $95.35.

Analysts Set New Price Targets

A number of analysts recently weighed in on RBRK shares. Cantor Fitzgerald upped their target price on shares of Rubrik from $85.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wall Street Zen lowered shares of Rubrik from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. BMO Capital Markets increased their price target on shares of Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. UBS Group reiterated a "buy" rating on shares of Rubrik in a research note on Tuesday, April 29th. Finally, KeyCorp dropped their price target on shares of Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.69.

Rubrik Trading Up 0.5%

The firm has a 50 day moving average price of $73.82 and a 200-day moving average price of $68.50. The firm has a market cap of $18.70 billion and a price-to-earnings ratio of -7.15.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to analysts' expectations of $233.13 million. During the same period last year, the firm earned ($1.59) earnings per share. The company's revenue was up 47.5% compared to the same quarter last year. As a group, equities analysts expect that Rubrik, Inc. will post -7.66 earnings per share for the current fiscal year.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 87,971 shares of Rubrik stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the sale, the chief financial officer now owns 413,458 shares in the company, valued at $28,958,598.32. The trade was a 17.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $52.04, for a total value of $1,690,467.36. Following the completion of the sale, the chief technology officer now owns 186,795 shares of the company's stock, valued at $9,720,811.80. This trade represents a 14.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 565,648 shares of company stock valued at $40,797,785. 32.38% of the stock is owned by insiders.

Institutional Trading of Rubrik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in Rubrik by 204.1% in the 1st quarter. Rhumbline Advisers now owns 2,980 shares of the company's stock valued at $182,000 after buying an additional 2,000 shares during the period. Acadian Asset Management LLC grew its holdings in Rubrik by 4,007.4% in the 1st quarter. Acadian Asset Management LLC now owns 318,238 shares of the company's stock valued at $19,393,000 after buying an additional 310,490 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Rubrik by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 715,953 shares of the company's stock valued at $43,659,000 after buying an additional 48,724 shares during the period. Voleon Capital Management LP grew its holdings in Rubrik by 50.7% in the 1st quarter. Voleon Capital Management LP now owns 186,205 shares of the company's stock valued at $11,355,000 after buying an additional 62,627 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Rubrik by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company's stock valued at $57,343,000 after buying an additional 236,181 shares during the period. Hedge funds and other 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.