Rubrik (NYSE:RBRK) Given New $51.00 Price Target at Barclays

Rubrik (NYSE:RBRK) had its price objective hoisted by analysts at Barclays from $42.00 to $51.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 15.38% from the stock’s current price.

RBRK has been the subject of a number of other research reports. Guggenheim raised their target price on shares of Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird lifted their target price on Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Wedbush increased their price target on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Piper Sandler began coverage on Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 price target on the stock. Finally, CIBC increased their price objective on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik presently has an average rating of “Buy” and an average target price of $46.18.

Rubrik Trading Up 0.8 %

RBRK stock opened at $44.20 on Wednesday. The stock has a 50-day moving average price of $37.66 and a two-hundred day moving average price of $34.65. Rubrik has a 1 year low of $28.34 and a 1 year high of $45.90.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. As a group, equities research analysts forecast that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 10,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $44.48, for a total transaction of $444,800.00. Following the transaction, the chief financial officer now owns 385,360 shares in the company, valued at $17,140,812.80. This trade represents a 2.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 454,512 shares of company stock valued at $15,813,462 in the last three months.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rubrik by 133.3% during the 3rd quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock worth $18,290,000 after acquiring an additional 324,951 shares during the period. XTX Topco Ltd bought a new stake in shares of Rubrik during the 3rd quarter worth approximately $571,000. State Street Corp boosted its position in shares of Rubrik by 368.9% during the 3rd quarter. State Street Corp now owns 421,096 shares of the company’s stock worth $13,538,000 after acquiring an additional 331,296 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Rubrik by 407.7% in the third quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock valued at $2,204,000 after acquiring an additional 55,062 shares during the last quarter.

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.