Rubrik (NYSE:RBRK) Price Target Lowered to $76.00 at KeyCorp

Rubrik (NYSE:RBRK - Get Free Report) had its price objective decreased by stock analysts at KeyCorp from $82.00 to $76.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective would suggest a potential upside of 30.56% from the company's current price.

Several other brokerages have also recently weighed in on RBRK. BMO Capital Markets upped their price target on shares of Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Guggenheim raised their price objective on Rubrik from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Wells Fargo & Company increased their price target on shares of Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th. Finally, William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They issued a "market perform" rating on the stock. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $68.83.

Rubrik Stock Performance

Rubrik stock traded down $3.40 during trading hours on Thursday, hitting $58.21. The company had a trading volume of 1,312,708 shares, compared to its average volume of 2,416,186. The firm has a market cap of $11.05 billion and a P/E ratio of -4.22. The company has a 50-day moving average price of $64.37 and a two-hundred day moving average price of $59.38. Rubrik has a 1 year low of $28.34 and a 1 year high of $80.00.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. The firm's quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.59) earnings per share. As a group, equities research analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the transaction, the chief technology officer now directly owns 186,795 shares in the company, valued at $9,720,811.80. The trade was a 14.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total value of $832,154.74. Following the completion of the sale, the insider now directly owns 21,221 shares of the company's stock, valued at approximately $1,336,498.58. This represents a 38.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 515,619 shares of company stock valued at $34,167,897 over the last quarter.

Institutional Trading of Rubrik

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in Rubrik in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC increased its position in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Nemes Rush Group LLC purchased a new stake in Rubrik in the 4th quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new position in Rubrik in the fourth quarter valued at about $47,000. Finally, Quarry LP purchased a new position in Rubrik during the fourth quarter worth about $48,000. 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.