Rubrik (NYSE:RBRK) Price Target Lowered to $76.00 at KeyCorp

Rubrik (NYSE:RBRK) had its price target trimmed by KeyCorp from $82.00 to $76.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Citigroup raised their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 17th. BMO Capital Markets upped their price objective on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Rubrik in a report on Friday, March 14th. Wedbush boosted their target price on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Finally, Rosenblatt Securities upgraded shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $68.83.

Rubrik Stock Performance

NYSE:RBRK opened at $61.48 on Thursday. The company has a market cap of $11.67 billion and a price-to-earnings ratio of -4.46. The stock’s fifty day moving average price is $64.60 and its two-hundred day moving average price is $58.79. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. During the same quarter last year, the company posted ($1.59) EPS. The firm’s revenue was up 47.5% compared to the same quarter last year. On average, equities analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 2,000 shares of Rubrik stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total value of $124,060.00. Following the sale, the chief financial officer now directly owns 614,798 shares in the company, valued at approximately $38,135,919.94. The trade was a 0.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total transaction of $832,154.74. Following the transaction, the insider now owns 21,221 shares of the company’s stock, valued at approximately $1,336,498.58. This represents a 38.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 515,619 shares of company stock valued at $34,167,897 over the last three months.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Rubrik during the 4th quarter worth approximately $277,395,000. Vanguard Group Inc. grew its stake in shares of Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after buying an additional 3,372,323 shares in the last quarter. FMR LLC grew its stake in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after buying an additional 2,065,444 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Rubrik during the fourth quarter worth $85,331,000. Finally, Bank of America Corp DE raised its position in Rubrik by 1,305.1% during the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock worth $72,994,000 after acquiring an additional 1,037,319 shares in the last quarter. 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.