Rubrik (NYSE:RBRK) Now Covered by Oppenheimer

Equities researchers at Oppenheimer began coverage on shares of Rubrik (NYSE:RBRK) in a research report issued on Wednesday,Benzinga reports. The brokerage set a “market perform” rating on the stock.

RBRK has been the subject of several other reports. CIBC boosted 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. Wells Fargo & Company lowered their price objective on Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Wedbush upped their target price on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 target price on shares of Rubrik in a report on Tuesday, September 10th. Finally, Robert W. Baird upped their target price on Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $45.00.

Rubrik Trading Up 1.1 %

RBRK opened at $44.81 on Wednesday. The business’s 50-day simple moving average is $36.44 and its 200-day simple moving average is $34.27. Rubrik has a one year low of $28.34 and a one year high of $45.90.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. On average, analysts expect that Rubrik will post -7.94 earnings per share for the current year.

Insider Activity

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Rubrik news, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the sale, the chief financial officer now owns 493,360 shares in the company, valued at $15,496,437.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,512 shares of company stock valued at $15,368,662.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Summit Trail Advisors LLC bought a new position in shares of Rubrik in the third quarter valued at approximately $625,000. Alpha DNA Investment Management LLC purchased a new position in shares of Rubrik in the third quarter valued at $411,000. Penserra Capital Management LLC purchased a new position in shares of Rubrik in the third quarter valued at $35,359,000. Champlain Investment Partners LLC purchased a new position in Rubrik during the third quarter worth about $44,418,000. Finally, Charles Schwab Investment Management Inc. grew its position in Rubrik by 134.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock worth $10,462,000 after buying an additional 186,485 shares in 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.