Rosenblatt Securities Cuts Rubrik (NYSE:RBRK) Price Target to $95.00

Rubrik (NYSE:RBRK) had its price target cut by Rosenblatt Securities from $120.00 to $95.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on RBRK. Guggenheim set a $110.00 target price on shares of Rubrik in a research report on Friday, December 5th. Berenberg Bank initiated coverage on Rubrik in a research note on Tuesday, November 18th. They set a “buy” rating and a $114.00 price objective on the stock. Piper Sandler dropped their price target on Rubrik from $118.00 to $99.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. Roth Mkm reiterated a “buy” rating on shares of Rubrik in a research note on Friday, December 5th. Finally, The Goldman Sachs Group decreased their target price on shares of Rubrik from $120.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rubrik presently has an average rating of “Moderate Buy” and a consensus price target of $98.68.

Rubrik Price Performance

RBRK stock opened at $57.54 on Monday. Rubrik has a fifty-two week low of $46.36 and a fifty-two week high of $103.00. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of -29.51 and a beta of 0.45. The business’s fifty day moving average price is $60.02 and its two-hundred day moving average price is $72.22.

Insider Buying and Selling

In related news, insider Brian K. Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $70.88, for a total value of $708,800.00. Following the completion of the transaction, the insider owned 330,772 shares in the company, valued at $23,445,119.36. This trade represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $67.66, for a total transaction of $1,353,200.00. Following the sale, the chief financial officer directly owned 489,959 shares in the company, valued at $33,150,625.94. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 247,878 shares of company stock valued at $18,152,721 over the last three months. Insiders own 32.38% of the company’s stock.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio lifted its stake in shares of Rubrik by 90.8% in the 3rd quarter. Strs Ohio now owns 62,300 shares of the company’s stock valued at $5,124,000 after purchasing an additional 29,649 shares during the period. WCM Investment Management LLC acquired a new stake in Rubrik during the third quarter worth approximately $4,717,000. ARK Investment Management LLC increased its holdings in Rubrik by 21.1% in the third quarter. ARK Investment Management LLC now owns 319,112 shares of the company’s stock worth $26,247,000 after purchasing an additional 55,500 shares in the last quarter. Citigroup Inc. increased its holdings in Rubrik by 210.2% in the third quarter. Citigroup Inc. now owns 104,041 shares of the company’s stock worth $8,557,000 after purchasing an additional 70,504 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in Rubrik by 471.4% in the third quarter. TD Waterhouse Canada Inc. now owns 50,614 shares of the company’s stock valued at $4,181,000 after buying an additional 41,756 shares during the period. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).