Rubrik (NYSE:RBRK) Receives Outperform Rating from Wedbush

Rubrik (NYSE:RBRK - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Wedbush in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $120.00 price objective on the stock, up from their previous price objective of $80.00. Wedbush's target price would indicate a potential upside of 22.41% from the stock's previous close.

RBRK has been the topic of several other reports. Piper Sandler dropped their price target on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets boosted 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. Robert W. Baird dropped their price target on shares of Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. KeyCorp boosted their price target on shares of Rubrik from $98.00 to $113.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, William Blair assumed coverage on Rubrik in a report on Friday, February 7th. They set a "market perform" rating on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rubrik has an average rating of "Moderate Buy" and an average target price of $95.81.

Rubrik Trading Down 0.5%

RBRK stock traded down $0.54 during trading on Friday, hitting $98.03. The company had a trading volume of 6,567,499 shares, compared to its average volume of 2,158,002. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of -34.64 and a beta of 0.87. The business has a 50 day moving average of $75.32 and a 200 day moving average of $69.25. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $105.48.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.17. The company had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. During the same period in the previous year, the company earned ($1.58) EPS. The business's revenue for the quarter was up 48.7% compared to the same quarter last year. As a group, equities analysts predict that Rubrik will post -7.66 EPS for the current year.

Insider Activity

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.04, for a total value of $1,690,467.36. Following the transaction, the chief technology officer now owns 186,795 shares in the company, valued at $9,720,811.80. This represents a 14.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the transaction, the chief financial officer now owns 413,458 shares in the company, valued at $28,958,598.32. This represents a 17.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 632,609 shares of company stock worth $47,450,968 in the last 90 days. Company insiders own 32.38% of the company's stock.

Institutional Investors Weigh In On Rubrik

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Rubrik by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company's stock valued at $423,512,000 after buying an additional 616,917 shares in the last quarter. Norges Bank bought a new stake in shares of Rubrik in the 4th quarter valued at approximately $277,395,000. FMR LLC grew its stake in shares of Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after buying an additional 2,065,444 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Rubrik by 26.6% in the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock valued at $206,278,000 after buying an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock valued at $129,359,000 after buying an additional 427,149 shares in the last quarter. Institutional investors own 49.54% of the company's stock.

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.