Rubrik (NYSE:RBRK) Sets New 52-Week High – Here’s What Happened

Rubrik, Inc. (NYSE:RBRK)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $80.00 and last traded at $78.44, with a volume of 474742 shares changing hands. The stock had previously closed at $77.55.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald upped their target price on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Mizuho increased their price target on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Citigroup upped their price objective on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. William Blair began coverage on shares of Rubrik in a research report on Friday, February 7th. They set a “market perform” rating for the company. Finally, Rosenblatt Securities began coverage on shares of Rubrik in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Rubrik presently has an average rating of “Moderate Buy” and a consensus price target of $65.33.

Rubrik Price Performance

The business’s fifty day moving average is $69.27 and its 200-day moving average is $48.72.

Insider Transactions at Rubrik

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $70.94, for a total transaction of $1,773,500.00. Following the completion of the transaction, the executive now owns 381,043 shares in the company, valued at approximately $27,031,190.42. This represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $74.85, for a total transaction of $2,431,502.25. Following the transaction, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $16,413,033.15. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 646,434 shares of company stock valued at $42,154,951.

Hedge Funds Weigh In On Rubrik

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. acquired a new stake in Rubrik in the 3rd quarter valued at about $25,000. Russell Investments Group Ltd. purchased a new stake in shares of Rubrik in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC lifted its position in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Rubrik in the fourth quarter worth approximately $39,000. Finally, Rhumbline Advisers purchased a new stake in shares of Rubrik in the fourth quarter worth approximately $64,000. 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.