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

Rubrik (NYSE:RBRK) had its target price cut by research analysts at KeyCorp from $82.00 to $76.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 23.61% from the stock’s previous close.

Several other analysts also recently issued reports on RBRK. BMO Capital Markets lifted their price target on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th. Wells Fargo & Company raised their price target on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Piper Sandler reduced their price objective on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. 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 note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $68.83.

Rubrik Stock Down 1.3 %

Shares of Rubrik stock opened at $61.48 on Thursday. The stock has a market cap of $11.67 billion and a PE ratio of -4.46. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00. The business has a fifty day simple moving average of $64.37 and a 200 day simple moving average of $59.00.

Rubrik (NYSE:RBRK) last announced 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 firm had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the business earned ($1.59) earnings per share. Analysts expect that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity at Rubrik

In related news, CFO Kiran Kumar Choudary sold 87,971 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the transaction, the chief financial officer now owns 413,458 shares in the company, valued at $28,958,598.32. The trade was a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total value of $832,154.74. Following the sale, the insider now directly owns 21,221 shares of the company’s stock, valued at $1,336,498.58. This represents a 38.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 515,619 shares of company stock worth $34,167,897 in the last quarter.

Institutional Investors Weigh In On Rubrik

Several hedge funds and other institutional investors have recently modified their holdings of RBRK. Renaissance Capital LLC increased its holdings in Rubrik by 21.2% during the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock worth $4,757,000 after purchasing an additional 12,714 shares in the last quarter. FMR LLC grew its position in Rubrik by 172.6% during 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 during the period. US Bancorp DE increased its stake in shares of Rubrik by 1,329.9% during the 4th quarter. US Bancorp DE now owns 19,547 shares of the company’s stock worth $1,278,000 after purchasing an additional 18,180 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Rubrik during the 4th quarter valued at $11,462,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Rubrik by 434.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 335,238 shares of the company’s stock valued at $21,911,000 after purchasing an additional 272,482 shares during the last quarter. Institutional investors 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.