Rubrik (NYSE:RBRK) Price Target Cut to $85.00 by Analysts at Cantor Fitzgerald

Rubrik (NYSE:RBRK) had its price objective cut by Cantor Fitzgerald from $105.00 to $85.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

RBRK has been the topic of a number of other reports. DA Davidson assumed coverage on Rubrik in a research report on Monday, February 23rd. They issued a “buy” rating and a $65.00 target price on the stock. Robert W. Baird decreased their price target on shares of Rubrik from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. Guggenheim set a $110.00 price target on shares of Rubrik in a research note on Friday, December 5th. Truist Financial cut their price target on shares of Rubrik from $110.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rubrik in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rubrik currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.68.

Rubrik Stock Performance

Shares of RBRK opened at $57.03 on Monday. Rubrik has a one year low of $46.36 and a one year high of $103.00. The stock has a 50-day moving average price of $60.84 and a 200 day moving average price of $72.55. The company has a market capitalization of $11.41 billion, a P/E ratio of -29.25 and a beta of 0.46.

Insider Activity

In other Rubrik news, insider Brian K. Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $70.88, for a total transaction of $708,800.00. Following the completion of the transaction, the insider directly owned 330,772 shares of the company’s stock, valued at $23,445,119.36. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $54.17, for a total transaction of $1,083,400.00. Following the completion of the transaction, the chief financial officer owned 474,959 shares of the company’s stock, valued at approximately $25,728,529.03. This trade represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 257,878 shares of company stock worth $19,061,021 in the last 90 days. 32.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rubrik

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its position in Rubrik by 12.0% in the 2nd quarter. NewEdge Advisors LLC now owns 1,400 shares of the company’s stock valued at $125,000 after acquiring an additional 150 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of Rubrik by 100.0% in the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. CI Investments Inc. grew its stake in shares of Rubrik by 31.7% in the third quarter. CI Investments Inc. now owns 859 shares of the company’s stock worth $71,000 after purchasing an additional 207 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Rubrik by 24.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,146 shares of the company’s stock valued at $94,000 after purchasing an additional 224 shares during the period. Finally, Creative Planning increased its holdings in shares of Rubrik by 5.3% during the second quarter. Creative Planning now owns 4,668 shares of the company’s stock valued at $418,000 after purchasing an additional 236 shares during the period. 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).