Rubrik (NYSE:RBRK) Reaches New 1-Year High – What’s Next?

Shares of Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high on Tuesday . The stock traded as high as $89.00 and last traded at $88.31, with a volume of 467862 shares trading hands. The stock had previously closed at $86.72.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RBRK. Piper Sandler reduced their target price on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Guggenheim increased their price objective on Rubrik from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Wells Fargo & Company upped their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday, March 12th. Finally, Roth Capital started coverage on shares of Rubrik in a research report on Thursday, May 15th. They issued a “buy” rating and a $97.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.13.

Rubrik Stock Performance

The stock has a fifty day moving average price of $68.68 and a 200-day moving average price of $64.95. The firm has a market cap of $16.97 billion and a PE ratio of -6.45.

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

Insider Buying and Selling at Rubrik

In other news, major shareholder Lightspeed Management Company, sold 13,213 shares of Rubrik stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total value of $832,154.74. Following the completion of the transaction, the insider now directly owns 21,221 shares of the company’s stock, valued at approximately $1,336,498.58. The trade was a 38.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.81, for a total value of $293,335.00. Following the completion of the sale, the chief financial officer now directly owns 565,165 shares in the company, valued at approximately $47,366,478.65. This trade represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 592,117 shares of company stock worth $40,192,998 in the last ninety days. 32.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RBRK. Russell Investments Group Ltd. bought a new position in shares of Rubrik in the fourth quarter worth $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Rubrik during the 1st quarter worth about $30,000. Summit Securities Group LLC acquired a new stake in shares of Rubrik in the 1st quarter worth approximately $31,000. Global Retirement Partners LLC increased its stake in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Finally, Comerica Bank boosted its stake in Rubrik by 209.0% during the first quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after buying an additional 395 shares in 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.