Rubrik (NYSE:RBRK) Reaches New 1-Year High - Time to Buy?

Rubrik, Inc. (NYSE:RBRK - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $95.39 and last traded at $94.95, with a volume of 438924 shares traded. The stock had previously closed at $92.35.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. BMO Capital Markets raised their target price on Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. William Blair assumed coverage on Rubrik in a research note on Friday, February 7th. They issued a "market perform" rating for the company. Piper Sandler lowered their target price on Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wedbush raised their target price on Rubrik from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rubrik currently has a consensus rating of "Moderate Buy" and an average price target of $77.69.

Rubrik Stock Performance

The firm has a market cap of $18.12 billion and a P/E ratio of -6.93. The stock has a fifty day simple moving average of $71.84 and a 200 day simple moving average of $67.37.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. The company's quarterly revenue was up 47.5% on a year-over-year basis. During the same period last year, the firm posted ($1.59) earnings per share. Research analysts predict that Rubrik, Inc. will post -7.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $90.10, for a total value of $2,252,500.00. Following the completion of the sale, the executive now owns 504,584 shares of the company's stock, valued at $45,463,018.40. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kiran Kumar Choudary sold 3,500 shares of Rubrik stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $94.86, for a total value of $332,010.00. Following the completion of the sale, the chief financial officer now directly owns 551,665 shares of the company's stock, valued at $52,330,941.90. The trade was a 0.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 630,617 shares of company stock valued at $43,678,208. Corporate insiders own 32.38% of the company's stock.

Institutional Trading of Rubrik

Several large investors have recently modified their holdings of RBRK. Norges Bank bought a new stake in shares of Rubrik in the fourth quarter worth $277,395,000. Vanguard Group Inc. grew its holdings in shares of Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock worth $413,610,000 after acquiring an additional 3,372,323 shares during the period. FMR LLC grew its holdings in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after acquiring an additional 2,065,444 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Rubrik in the fourth quarter worth $85,331,000. Finally, Bank of America Corp DE grew its holdings in shares of Rubrik by 1,305.1% in the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company's stock worth $72,994,000 after acquiring an additional 1,037,319 shares during the period. 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.