Wells Fargo & Company Raises Rubrik (NYSE:RBRK) Price Target to $125.00

Rubrik (NYSE:RBRK - Free Report) had its price target boosted by Wells Fargo & Company from $80.00 to $125.00 in a research report sent to investors on Friday, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other brokerages have also commented on RBRK. Wall Street Zen lowered Rubrik from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Piper Sandler decreased their price target on Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Guggenheim reissued a "buy" rating and set a $105.00 price target (up previously from $80.00) on shares of Rubrik in a research note on Wednesday, May 28th. UBS Group reissued a "buy" rating on shares of Rubrik in a research note on Tuesday, April 29th. Finally, William Blair began coverage on Rubrik in a research note on Friday, February 7th. They set a "market perform" rating on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rubrik has a consensus rating of "Moderate Buy" and a consensus target price of $95.81.

Rubrik Price Performance

NYSE RBRK traded down $0.54 on Friday, hitting $98.03. 6,567,499 shares of the company's stock were exchanged, compared to its average volume of 2,158,031. The firm's 50-day moving average price is $75.32 and its two-hundred day moving average price is $69.25. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $103.00. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of -34.64 and a beta of 0.87.

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

Insider Activity at Rubrik

In other Rubrik news, Director Yvonne Wassenaar sold 2,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $99.98, for a total value of $199,960.00. Following the completion of the transaction, the director now directly owns 153 shares in the company, valued at approximately $15,296.94. The trade was a 92.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,477 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $99.83, for a total value of $3,242,178.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 632,609 shares of company stock valued at $47,450,968. 32.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RBRK. Russell Investments Group Ltd. acquired a new position in Rubrik in the 4th quarter valued at $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Rubrik during the 1st quarter worth $30,000. Summit Securities Group LLC acquired a new stake in shares of Rubrik during the 1st quarter worth $31,000. Global Retirement Partners LLC increased its holdings 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 buying an additional 500 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company's stock worth $36,000 after buying an additional 395 shares during 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.