Rubrik (NYSE:RBRK) Cut to Neutral at Mizuho

Mizuho cut shares of Rubrik (NYSE:RBRK) from an outperform rating to a neutral rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has $86.00 price objective on the stock, up from their previous price objective of $75.00.

A number of other brokerages have also issued reports on RBRK. Guggenheim lifted their target price on shares of Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Roth Capital began coverage on shares of Rubrik in a research note on Thursday. They set a “buy” rating and a $97.00 target price for the company. Citigroup raised their price target on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Robert W. Baird cut their price target on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Finally, BMO Capital Markets raised their price target on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, seventeen have issued 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

Shares of NYSE:RBRK opened at $85.40 on Thursday. The company 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. The firm has a 50 day simple moving average of $67.07 and a 200 day simple moving average of $64.14.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) 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 the consensus estimate of $233.13 million. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period last year, the firm posted ($1.59) EPS. On average, equities analysts predict that Rubrik will post -7.66 earnings per share for the current year.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 3,500 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.81, for a total transaction of $293,335.00. Following the completion of the transaction, the chief financial officer now owns 565,165 shares of the company’s stock, valued at $47,366,478.65. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total transaction of $832,154.74. Following the transaction, the insider now directly owns 21,221 shares of the company’s stock, valued at approximately $1,336,498.58. This represents a 38.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 594,617 shares of company stock valued at $40,386,273 in the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RBRK. Barclays PLC increased its holdings in shares of Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares during the period. Hamilton Lane Advisors LLC increased its stake in Rubrik by 3.0% in the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock valued at $2,224,000 after acquiring an additional 980 shares during the period. Wealthcare Advisory Partners LLC increased its stake in Rubrik by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after acquiring an additional 300 shares during the period. Shikiar Asset Management Inc. bought a new stake in Rubrik in the fourth quarter valued at about $203,000. Finally, Jackson Square Capital LLC bought a new stake in Rubrik in the fourth quarter valued at about $411,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Company Profile

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.