Avala Global LP Trims Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Avala Global LP trimmed its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306,942 shares of the technology company’s stock after selling 7,000 shares during the period. CyberArk Software makes up about 5.9% of Avala Global LP’s portfolio, making the stock its 3rd biggest position. Avala Global LP owned about 0.70% of CyberArk Software worth $89,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. bought a new position in CyberArk Software during the 2nd quarter valued at about $27,000. ORG Partners LLC bought a new position in shares of CyberArk Software during the second quarter valued at approximately $33,000. 1620 Investment Advisors Inc. purchased a new stake in shares of CyberArk Software in the second quarter worth approximately $39,000. Assetmark Inc. lifted its stake in shares of 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 grew 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 last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Price Performance

CyberArk Software stock opened at $323.51 on Monday. CyberArk Software Ltd. has a 1-year low of $193.91 and a 1-year high of $332.05. The business has a fifty day moving average price of $295.12 and a 200-day moving average price of $273.47. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 1,198.23 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same period last year, the business posted ($0.31) earnings per share. The firm’s revenue was up 25.6% compared to the same quarter last year. On average, equities research analysts anticipate that CyberArk Software Ltd. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYBR has been the subject of several research analyst reports. Truist Financial reiterated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. Barclays lifted their price objective on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. KeyCorp upped their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Wedbush lifted their price target on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Scotiabank began coverage on CyberArk Software in a research note on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective on the stock. One analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $328.37.

About CyberArk Software

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.