Rubrik (NYSE:RBRK) Upgraded at Roth Capital

Roth Capital upgraded shares of Rubrik (NYSE:RBRK) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

RBRK has been the topic of several other reports. Citigroup lifted their price objective on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a report on Wednesday, March 12th. William Blair began coverage on shares of Rubrik in a research report on Friday, February 7th. They set a “market perform” rating on the stock. Guggenheim raised their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Finally, Mizuho downgraded Rubrik from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $86.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Rubrik presently has an average rating of “Buy” and a consensus price target of $71.05.

Rubrik Stock Performance

Shares of Rubrik stock opened at $85.40 on Wednesday. The firm has a 50-day simple moving average of $67.07 and a two-hundred day simple moving average of $63.99. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $87.50. The company has a market cap of $16.21 billion and a P/E ratio of -6.20.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. Rubrik’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.59) EPS. Equities research analysts forecast that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In other news, major shareholder Lightspeed Management Company, sold 13,213 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total transaction of $832,154.74. Following the completion of the sale, the insider now owns 21,221 shares in the company, valued at approximately $1,336,498.58. This represents a 38.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the transaction, the director now owns 153 shares of the company’s stock, valued at approximately $11,828.43. The trade was a 94.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 594,617 shares of company stock worth $40,386,273 over the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in Rubrik in the 1st quarter valued at about $30,000. Summit Securities Group LLC purchased a new position in Rubrik during the 1st quarter valued at about $31,000. Global Retirement Partners LLC raised its position in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares during the last quarter. Finally, Comerica Bank grew its position 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 purchasing an additional 395 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.