Rubrik (NYSE:RBRK) Price Target Raised to $83.00 at Piper Sandler

Rubrik (NYSE:RBRK) had its price objective boosted by investment analysts at Piper Sandler from $72.00 to $83.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 25.53% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Robert W. Baird boosted their target price on shares of Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. CIBC raised their price target on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Truist Financial upped their price objective on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets raised their target price on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Rubrik has an average rating of “Buy” and an average target price of $64.11.

Rubrik Trading Down 1.3 %

Shares of Rubrik stock opened at $66.12 on Thursday. The business’s fifty day simple moving average is $49.37 and its 200 day simple moving average is $38.56. Rubrik has a 12 month low of $28.34 and a 12 month high of $75.79.

Insider Buying and Selling at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 3,973 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the sale, the chief financial officer now directly owns 345,374 shares in the company, valued at $24,984,355.16. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total transaction of $781,250.00. Following the transaction, the executive now owns 437,545 shares of the company’s stock, valued at $13,673,281.25. This trade represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 493,237 shares of company stock valued at $21,391,568 in the last quarter.

Hedge Funds Weigh In On Rubrik

Institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. purchased a new position in Rubrik in the 3rd quarter worth approximately $25,000. KBC Group NV bought a new stake in shares of Rubrik during the 3rd quarter worth $72,000. Quent Capital LLC purchased a new position in Rubrik in the third quarter worth $192,000. Mount Yale Investment Advisors LLC bought a new position in Rubrik in the third quarter valued at $208,000. Finally, Sei Investments Co. purchased a new stake in Rubrik during the second quarter valued at about $235,000. 49.54% of the stock is currently owned by institutional investors.

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.