Fred Alger Management LLC Has $3.39 Million Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Fred Alger Management LLC trimmed its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 1.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 11,626 shares of the technology company’s stock after selling 137 shares during the period. Fred Alger Management LLC’s holdings in CyberArk Software were worth $3,390,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. bought a new position in CyberArk Software in the second quarter valued at about $27,000. ORG Partners LLC bought a new position in CyberArk Software in the 2nd quarter valued at approximately $33,000. 1620 Investment Advisors Inc. acquired a new stake in CyberArk Software during the 2nd quarter worth approximately $39,000. Assetmark Inc. grew its holdings in CyberArk Software by 1,025.0% during the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after acquiring an additional 123 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its position in CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Price Performance

CYBR opened at $323.51 on Friday. CyberArk Software Ltd. has a fifty-two week low of $193.91 and a fifty-two week high of $332.05. The firm has a market capitalization of $14.10 billion, a PE ratio of 1,198.19 and a beta of 1.13. The company’s 50-day moving average is $295.12 and its 200 day moving average is $273.26.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.31) earnings per share. As a group, analysts expect that CyberArk Software Ltd. will post -0.62 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CYBR. Truist Financial reiterated a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. DA Davidson upped their price target on CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus increased their price target on CyberArk Software from $306.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their price objective on CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.