Rubrik (NYSE:RBRK) Rating Lowered to “Neutral” at Mizuho

Rubrik (NYSE:RBRK) was downgraded by equities researchers at Mizuho from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat reports. They presently have a $86.00 price target on the stock, up from their previous price target of $75.00. Mizuho’s target price suggests a potential upside of 0.71% from the company’s current price.

RBRK has been the subject of several other reports. Rosenblatt Securities raised Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Wednesday, March 12th. KeyCorp lowered their price objective on Rubrik from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. BMO Capital Markets lifted 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. Robert W. Baird decreased their target price on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company raised their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of “Buy” and a consensus target price of $71.05.

Rubrik Stock Performance

NYSE RBRK opened at $85.40 on Thursday. The firm has a 50-day moving average of $67.07 and a 200-day moving average of $63.99. The stock has a market cap of $16.21 billion and a PE ratio of -6.20. Rubrik has a 52-week low of $28.34 and a 52-week high of $87.50.

Rubrik (NYSE:RBRK) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. During the same quarter in the previous year, the firm posted ($1.59) earnings per share. The business’s revenue was up 47.5% on a year-over-year basis. As a group, analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total value of $193,275.00. Following the transaction, the director now owns 153 shares in the company, valued at $11,828.43. This trade represents a 94.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 87,971 shares of Rubrik stock in a transaction that occurred 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 directly owns 413,458 shares in the company, valued at approximately $28,958,598.32. The trade was a 17.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 594,617 shares of company stock valued at $40,386,273.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi boosted its holdings in Rubrik by 0.7% during the first quarter. Amundi now owns 37,116 shares of the company’s stock worth $2,132,000 after purchasing an additional 262 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after buying an additional 300 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Rubrik by 31.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock worth $76,000 after buying an additional 300 shares during the last quarter. Comerica Bank grew its holdings in shares of Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after acquiring an additional 395 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Rubrik during the fourth quarter valued at approximately $28,000. Hedge funds and other 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.