Weatherly Asset Management L. P. Decreases Holdings in CyberArk Software Ltd. $CYBR

Weatherly Asset Management L. P. trimmed its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 2.4% during the third quarter, Holdings Channel reports. The fund owned 50,748 shares of the technology company’s stock after selling 1,241 shares during the period. CyberArk Software makes up approximately 2.0% of Weatherly Asset Management L. P.’s portfolio, making the stock its 14th largest position. Weatherly Asset Management L. P.’s holdings in CyberArk Software were worth $24,519,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of CyberArk Software in the 2nd quarter worth approximately $444,613,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CyberArk Software by 82.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 740,504 shares of the technology company’s stock worth $250,290,000 after buying an additional 335,634 shares during the last quarter. Amundi increased its position in CyberArk Software by 153.5% in the first quarter. Amundi now owns 547,466 shares of the technology company’s stock worth $179,547,000 after buying an additional 331,498 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of CyberArk Software by 545.1% in the first quarter. BNP Paribas Financial Markets now owns 230,362 shares of the technology company’s stock valued at $77,862,000 after buying an additional 194,651 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of CyberArk Software by 85.3% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 362,752 shares of the technology company’s stock valued at $147,597,000 after buying an additional 167,000 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CYBR has been the subject of several recent research reports. Canaccord Genuity Group lowered CyberArk Software from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $440.00 to $502.00 in a report on Wednesday, October 15th. Barclays reiterated an “equal weight” rating and set a $520.00 target price (up previously from $440.00) on shares of CyberArk Software in a research report on Tuesday, October 14th. Piper Sandler set a $474.00 price target on shares of CyberArk Software in a research report on Wednesday, December 17th. JMP Securities restated a “market perform” rating on shares of CyberArk Software in a research note on Tuesday, September 23rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $518.00 price objective on shares of CyberArk Software in a report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $462.63.

CyberArk Software Price Performance

CYBR stock opened at $454.65 on Friday. The firm has a 50 day moving average of $478.01 and a 200-day moving average of $448.56. The firm has a market capitalization of $22.95 billion, a P/E ratio of -98.62, a price-to-earnings-growth ratio of 24.31 and a beta of 0.99. CyberArk Software Ltd. has a 12 month low of $288.63 and a 12 month high of $526.19. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.52.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.28. CyberArk Software had a negative net margin of 17.42% and a negative return on equity of 0.07%. The business had revenue of $342.84 million for the quarter, compared to analyst estimates of $328.52 million. During the same quarter in the prior year, the firm posted $0.94 EPS. CyberArk Software’s revenue was up 42.8% on a year-over-year basis. As a group, sell-side analysts predict that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

About CyberArk Software

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.