Rubrik (NYSE:RBRK) Sets New 52-Week High – Here’s Why

Rubrik, Inc. (NYSE:RBRK)’s share price hit a new 52-week high during mid-day trading on Friday. The stock traded as high as $128.32 and last traded at $127.9920, with a volume of 1,231,586 shares. The stock had previously closed at $120.75.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RBRK. Citigroup lifted their price objective on shares of Rubrik from $96.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 28th. Stephens restated an “overweight” rating on shares of Rubrik in a report on Friday, August 28th. Oppenheimer set a $120.00 target price on Rubrik in a research report on Thursday, August 20th. Barclays boosted their price target on Rubrik from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Rubrik in a research report on Tuesday, August 25th. Twenty-nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.56.

Rubrik Price Performance

The company’s fifty day simple moving average is $106.55 and its 200-day simple moving average is $83.03. The firm has a market capitalization of $26.81 billion, a PE ratio of -102.11 and a beta of 1.12.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.16. The business had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. The business’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. As a group, equities research analysts anticipate that Rubrik, Inc. will post -1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 721 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $119.00, for a total transaction of $85,799.00. Following the transaction, the director owned 2,988 shares in the company, valued at $355,572. This represents a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Thompson sold 11,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $1,272,590.00. Following the completion of the transaction, the director directly owned 8,362 shares of the company’s stock, valued at $967,399.78. The trade was a 56.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 139,583 shares of company stock valued at $13,515,814. 13.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RBRK. Pictet Asset Management Holding SA raised its stake in Rubrik by 104.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company’s stock worth $162,572,000 after acquiring an additional 1,696,342 shares during the last quarter. Congress Asset Management Co. grew its stake in Rubrik by 32.6% during the 3rd quarter. Congress Asset Management Co. now owns 715,550 shares of the company’s stock valued at $81,909,000 after purchasing an additional 175,866 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Rubrik by 11.1% in the second quarter. Assenagon Asset Management S.A. now owns 280,448 shares of the company’s stock valued at $22,514,000 after purchasing an additional 28,056 shares during the period. Stephens Investment Management Group LLC increased its holdings in shares of Rubrik by 17.4% in the first quarter. Stephens Investment Management Group LLC now owns 699,389 shares of the company’s stock valued at $34,249,000 after purchasing an additional 103,538 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Rubrik by 36.6% in the first quarter. Cetera Investment Advisers now owns 87,025 shares of the company’s stock valued at $4,262,000 after purchasing an additional 23,320 shares during the period. Institutional investors and hedge funds own 49.54% of the company’s stock.

About Rubrik

Rubrik, Inc is a cybersecurity and data-management company that provides organizations with tools to protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to help businesses maintain data availability, strengthen cyber resilience and recover operations following events such as ransomware attacks, system failures or other disruptions.

The company’s Rubrik Security Cloud platform combines data backup, recovery, archival, monitoring and security capabilities.