Rubrik (NYSE:RBRK) Price Target Cut to $95.00 by Analysts at Rosenblatt Securities

Rubrik (NYSE:RBRK) had its price objective 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.

Several other brokerages also recently weighed in on RBRK. Truist Financial dropped their price objective on Rubrik from $110.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Cantor Fitzgerald decreased their target price on Rubrik from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. The Goldman Sachs Group lowered their target price on Rubrik from $120.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rubrik in a report on Friday, December 5th. Finally, Berenberg Bank started coverage on shares of Rubrik in a report on Tuesday, November 18th. They set a “buy” rating and a $114.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.68.

Rubrik Stock Performance

Shares of RBRK stock opened at $57.03 on Monday. The stock’s fifty day moving average price is $60.84 and its two-hundred day moving average price is $72.55. The company has a market cap of $11.41 billion, a PE ratio of -29.25 and a beta of 0.46. Rubrik has a fifty-two week low of $46.36 and a fifty-two week high of $103.00.

Insiders Place Their Bets

In other Rubrik news, Director Ravi Mhatre sold 101,659 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $81.82, for a total value of $8,317,739.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Wendell Thompson sold 11,000 shares of Rubrik stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $73.84, for a total value of $812,240.00. Following the sale, the director directly owned 2,702 shares in the company, valued at $199,515.68. The trade was a 80.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 257,878 shares of company stock worth $19,061,021. Company insiders own 32.38% of the company’s stock.

Institutional Investors Weigh In On Rubrik

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Rubrik by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company’s stock worth $1,123,836,000 after acquiring an additional 1,678,255 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Rubrik by 42.8% during the fourth quarter. First Trust Advisors LP now owns 7,064,057 shares of the company’s stock valued at $540,259,000 after acquiring an additional 2,116,272 shares during the last quarter. Norges Bank bought a new position in shares of Rubrik during the fourth quarter valued at $345,907,000. Voya Investment Management LLC lifted its holdings in shares of Rubrik by 18.0% during the third quarter. Voya Investment Management LLC now owns 3,569,026 shares of the company’s stock worth $293,552,000 after purchasing an additional 543,855 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Rubrik by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 2,528,649 shares of the company’s stock worth $193,433,000 after purchasing an additional 178,714 shares during the last quarter. 49.54% of the stock is currently 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).