Cantor Fitzgerald Cuts Rubrik (NYSE:RBRK) Price Target to $85.00

Rubrik (NYSE:RBRK) had its price objective lowered by Cantor Fitzgerald from $105.00 to $85.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

RBRK has been the subject of a number of other reports. KeyCorp dropped their price target on Rubrik from $95.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Barclays reduced their price objective on Rubrik from $100.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Truist Financial lowered their target price on Rubrik from $110.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Rosenblatt Securities cut their target price on shares of Rubrik from $120.00 to $95.00 and set a “buy” rating for the company in a report on Monday. Finally, DA Davidson started coverage on shares of Rubrik in a research report on Monday, February 23rd. They issued a “buy” rating and a $65.00 price target on the stock. One 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.68.

Rubrik Stock Up 2.8%

Shares of Rubrik stock opened at $57.54 on Monday. Rubrik has a twelve month low of $46.36 and a twelve month high of $103.00. The business has a 50-day moving average price of $60.02 and a 200-day moving average price of $72.22. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of -29.51 and a beta of 0.45.

Insider Buying and Selling

In other Rubrik news, Director John Wendell Thompson sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $53.62, for a total transaction of $589,820.00. Following the sale, the director directly owned 4,653 shares in the company, valued at $249,493.86. This represents a 70.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kiran Kumar Choudary sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $54.17, for a total value of $1,083,400.00. Following the completion of the sale, the chief financial officer directly owned 474,959 shares of the company’s stock, valued at $25,728,529.03. The trade was a 4.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 247,878 shares of company stock valued at $18,152,721. 32.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank raised its stake in shares of Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after acquiring an additional 395 shares during the period. Royal Bank of Canada lifted its holdings in shares of Rubrik by 231.3% in the 1st quarter. Royal Bank of Canada now owns 29,320 shares of the company’s stock worth $1,789,000 after acquiring an additional 20,471 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock worth $76,000 after purchasing an additional 300 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Rubrik by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company’s stock worth $57,343,000 after purchasing an additional 236,181 shares during the period. Finally, Rhumbline Advisers grew its holdings in Rubrik by 204.1% during the 1st quarter. Rhumbline Advisers now owns 2,980 shares of the company’s stock valued at $182,000 after purchasing an additional 2,000 shares during the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

About Rubrik

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).