CyberArk Software Ltd. (NASDAQ:CYBR) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 21.1% in the fourth quarter, Holdings Channel reports. The fund owned 6,169 shares of the technology company’s stock after selling 1,649 shares during the period. ARK Investment Management LLC’s holdings in CyberArk Software were worth $2,055,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC grew its holdings in shares of CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after purchasing an additional 2,062 shares during the period. Groupama Asset Managment boosted its holdings in CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the last quarter. Jennison Associates LLC boosted its holdings in CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of CyberArk Software in the 3rd quarter valued at approximately $8,612,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in shares of CyberArk Software during the 4th quarter worth approximately $764,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

CYBR has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $480.00 price objective on shares of CyberArk Software in a report on Wednesday. Truist Financial upped their price target on CyberArk Software from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company increased their price target on CyberArk Software from $425.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Rosenblatt Securities restated a “buy” rating and issued a $445.00 price objective on shares of CyberArk Software in a report on Wednesday. Finally, UBS Group increased their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $416.67.

CyberArk Software Stock Performance

Shares of CyberArk Software stock opened at $364.18 on Thursday. The business has a 50-day simple moving average of $358.58 and a 200-day simple moving average of $315.53. CyberArk Software Ltd. has a one year low of $223.41 and a one year high of $421.00. The company has a market cap of $15.87 billion, a PE ratio of -186.76 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, sell-side analysts predict that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

CyberArk Software Company 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.