Jennison Associates LLC Sells 799,043 Shares of CyberArk Software Ltd. $CYBR

Jennison Associates LLC lessened its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 63.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 461,998 shares of the technology company’s stock after selling 799,043 shares during the quarter. Jennison Associates LLC owned approximately 0.92% of CyberArk Software worth $223,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CYBR. Vanguard Capital Wealth Advisors acquired a new stake in shares of CyberArk Software in the third quarter valued at about $217,000. Parkside Financial Bank & Trust raised its holdings in CyberArk Software by 120.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 64 shares of the technology company’s stock worth $31,000 after purchasing an additional 35 shares during the last quarter. Strs Ohio lifted its position in shares of CyberArk Software by 5.7% in the 3rd quarter. Strs Ohio now owns 163,951 shares of the technology company’s stock worth $79,213,000 after purchasing an additional 8,785 shares during the period. Triasima Portfolio Management inc. acquired a new stake in shares of CyberArk Software during the third quarter worth $226,000. Finally, Root Financial Partners LLC bought a new position in CyberArk Software during the third quarter worth $56,000. 91.84% of the stock is owned by institutional investors.

CyberArk Software Stock Down 1.0%

CyberArk Software stock opened at $438.22 on Friday. The firm has a 50 day simple moving average of $455.06 and a 200 day simple moving average of $456.37. 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 Ltd. has a 1-year low of $288.63 and a 1-year high of $526.19. The firm has a market capitalization of $22.12 billion, a price-to-earnings ratio of -95.06, a P/E/G ratio of 20.20 and a beta of 0.92.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share (EPS) 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 firm had revenue of $342.84 million for the quarter, compared to the consensus estimate of $328.52 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was up 42.8% on a year-over-year basis. On average, analysts predict that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

CYBR has been the topic of several recent analyst reports. Piper Sandler set a $474.00 price target on CyberArk Software in a research note on Wednesday, December 17th. Weiss Ratings began coverage on shares of CyberArk Software in a research report on Saturday, November 1st. They issued a “sell (d-)” rating for the company. Jefferies Financial Group downgraded shares of CyberArk Software from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 30th. Citigroup cut shares of CyberArk Software from a “buy” rating to a “hold” rating and lifted their price objective for the company from $465.00 to $524.00 in a report on Tuesday, November 4th. Finally, Canaccord Genuity Group downgraded shares of CyberArk Software from a “buy” rating to a “hold” rating and boosted their target price for the stock from $440.00 to $502.00 in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $462.63.

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.