Rubrik (NYSE:RBRK) Earns Overweight Rating from KeyCorp

Rubrik (NYSE:RBRK)‘s stock had its “overweight” rating restated by KeyCorp in a research note issued to investors on Friday, Marketbeat reports. They currently have a $113.00 target price on the stock, up from their previous target price of $98.00. KeyCorp’s price objective indicates a potential upside of 29.25% from the company’s previous close.

Several other research analysts have also recently weighed in on RBRK. Wedbush raised their target price on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Cantor Fitzgerald raised their price objective on shares of Rubrik from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Roth Capital began coverage on shares of Rubrik in a report on Thursday, May 15th. They set a “buy” rating and a $97.00 target price for the company. UBS Group restated a “buy” rating on shares of Rubrik in a report on Tuesday, April 29th. Finally, BMO Capital Markets raised their price objective on Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Rubrik Price Performance

Rubrik stock opened at $87.43 on Friday. The firm has a 50 day simple moving average of $76.53 and a 200-day simple moving average of $69.97. The stock has a market capitalization of $16.59 billion, a PE ratio of -30.89 and a beta of 0.87. Rubrik has a 12-month low of $28.34 and a 12-month high of $103.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.58) earnings per share. On average, analysts forecast that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $100.18, for a total transaction of $2,504,500.00. Following the completion of the sale, the executive now owns 454,584 shares of the company’s stock, valued at $45,540,225.12. This trade represents a 5.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $124,060.00. Following the sale, the chief financial officer now directly owns 614,798 shares of the company’s stock, valued at $38,135,919.94. This trade represents a 0.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 687,609 shares of company stock worth $52,962,668. 32.38% of the stock is currently owned by company insiders.

Institutional Trading of Rubrik

A number of institutional investors have recently bought and sold shares of RBRK. Norges Bank acquired a new stake in shares of Rubrik during the 4th quarter valued at about $277,395,000. Vanguard Group Inc. lifted its holdings in shares of Rubrik by 114.1% during the 4th 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 during the last quarter. FMR LLC lifted its holdings in shares of Rubrik by 172.6% during the 4th 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 during the last quarter. Voloridge Investment Management LLC acquired a new stake in Rubrik in the fourth quarter valued at approximately $85,331,000. Finally, Bank of America Corp DE lifted its stake in Rubrik by 1,305.1% in the fourth quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock valued at $72,994,000 after acquiring an additional 1,037,319 shares during the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.

About Rubrik

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.