Essex Investment Management Co. LLC Raises Stake in CyberArk Software Ltd. (CYBR)
Essex Investment Management Co. LLC boosted its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 276,029 shares of the company’s stock after buying an additional 28,084 shares during the period. CyberArk Software accounts for approximately 2.2% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 5th largest position. Essex Investment Management Co. LLC owned approximately 0.93% of CyberArk Software worth $13,412,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Springbok Capital Management LLC purchased a new position in CyberArk Software during the first quarter worth approximately $168,000. Brookside Capital Management LLC increased its position in CyberArk Software by 5.7% in the first quarter. Brookside Capital Management LLC now owns 1,351,571 shares of the company’s stock worth $57,617,000 after buying an additional 73,433 shares in the last quarter. Granahan Investment Management Inc. MA purchased a new position in CyberArk Software during the first quarter worth approximately $3,875,000. Geode Capital Management LLC increased its position in CyberArk Software by 15.3% in the first quarter. Geode Capital Management LLC now owns 13,026 shares of the company’s stock worth $555,000 after buying an additional 1,728 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in CyberArk Software during the first quarter worth approximately $607,000. 70.11% of the stock is currently owned by institutional investors.
CyberArk Software Ltd. (NASDAQ:CYBR) traded down 0.92% during midday trading on Wednesday, hitting $50.45. The stock had a trading volume of 483,364 shares. The company has a market cap of $1.49 billion, a P/E ratio of 65.69 and a beta of 2.90. CyberArk Software Ltd. has a one year low of $31.50 and a one year high of $59.28. The stock’s 50-day moving average is $53.12 and its 200-day moving average is $47.47.
CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.09. The business had revenue of $50.40 million for the quarter, compared to analyst estimates of $48.25 million. CyberArk Software had a net margin of 14.55% and a return on equity of 12.54%. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities analysts predict that CyberArk Software Ltd. will post $1.07 EPS for the current fiscal year.
A number of brokerages have recently weighed in on CYBR. Nomura increased their price target on CyberArk Software from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. DA Davidson increased their price target on CyberArk Software from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 10th. William Blair reiterated an “outperform” rating on shares of CyberArk Software in a research report on Wednesday, August 10th. Deutsche Bank AG increased their price target on CyberArk Software from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Finally, Imperial Capital reiterated an “in-line” rating and set a $45.00 price target on shares of CyberArk Software in a research report on Sunday, July 24th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $57.41.
About CyberArk Software
CyberArk Software Ltd. (CyberArk) provides information technology (IT) security solutions that protect organizations from cyber-attacks. The Company’s products include Privileged Account Security Solution and Sensitive Information Management Solution. Its Privileged Account Security Solution enables its customers to secure, manage and monitor privileged account access and activities.
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