Rubrik (NYSE:RBRK) Trading Up 3% - Here's What Happened

Key Points

• Rubrik's stock (NYSE:RBRK) rose by 3% recently, reaching a high of $80.93, with a significant increase in trading volume of 210% compared to its average.
• Several analysts have raised their price targets for Rubrik, with ratings indicating a consensus "Moderate Buy" and a target price averaging $104.38.
• In the latest earnings report, Rubrik outperformed expectations with a 44.9% year-over-year revenue growth and reported an EPS of ($0.03), beating the forecasted ($0.34).

Rubrik, Inc. (NYSE:RBRK - Get Free Report)'s share price rose 3% on Friday . The company traded as high as $80.93 and last traded at $80.39. Approximately 10,091,289 shares traded hands during trading, an increase of 210% from the average daily volume of 3,251,234 shares. The stock had previously closed at $78.02.

Wall Street Analyst Weigh In

Several research analysts recently commented on RBRK shares. CIBC lifted their target price on shares of Rubrik from $125.00 to $130.00 and gave the stock an "outperformer" rating in a report on Thursday, September 11th. Barclays lifted their target price on shares of Rubrik from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Wednesday, September 10th. Oppenheimer reiterated a "market perform" rating on shares of Rubrik in a report on Friday, June 6th. Wells Fargo & Company lifted their target price on shares of Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, UBS Group reiterated a "buy" rating on shares of Rubrik in a report on Friday, June 6th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Rubrik currently has an average rating of "Moderate Buy" and a consensus target price of $104.38.

Rubrik Price Performance

The stock's 50-day simple moving average is $86.46 and its 200 day simple moving average is $80.20.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.31. The firm had revenue of $309.86 million during the quarter, compared to analyst estimates of $282.25 million. Rubrik's quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) earnings per share. Rubrik has set its Q3 2026 guidance at -0.180--0.160 EPS. FY 2026 guidance at -0.500--0.440 EPS. Equities research analysts predict that Rubrik, Inc. will post -7.66 EPS for the current year.

Insider Activity at Rubrik

In other news, CTO Arvind Nithrakashyap sold 40,170 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $74.21, for a total transaction of $2,981,015.70. Following the transaction, the chief technology officer directly owned 333,528 shares in the company, valued at approximately $24,751,112.88. This represents a 10.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique T. Salem sold 21,924 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $89.78, for a total transaction of $1,968,336.72. Following the transaction, the director owned 6,937 shares in the company, valued at $622,803.86. The trade was a 75.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 210,858 shares of company stock valued at $17,780,477 in the last three months. 32.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. acquired a new position in Rubrik in the second quarter valued at approximately $762,000. Hudson Bay Capital Management LP acquired a new stake in Rubrik in the second quarter worth $35,657,000. Public Sector Pension Investment Board increased its position in shares of Rubrik by 150.0% during the second quarter. Public Sector Pension Investment Board now owns 150,000 shares of the company's stock worth $13,438,000 after acquiring an additional 90,000 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of Rubrik by 611.7% during the second quarter. Rakuten Securities Inc. now owns 10,163 shares of the company's stock worth $911,000 after acquiring an additional 8,735 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its position in shares of Rubrik by 25.1% during the second quarter. State of Tennessee Department of Treasury now owns 137,979 shares of the company's stock worth $12,362,000 after acquiring an additional 27,679 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

About Rubrik

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.