Freedom Investment Management Inc. Cuts Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Freedom Investment Management Inc. trimmed its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 2.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,231 shares of the technology company’s stock after selling 66 shares during the quarter. Freedom Investment Management Inc.’s holdings in CyberArk Software were worth $651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in CyberArk Software by 715.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after acquiring an additional 49,360 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in CyberArk Software in the second quarter worth $711,000. Sycomore Asset Management increased its position in CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after purchasing an additional 16,294 shares during the last quarter. California State Teachers Retirement System raised its stake in CyberArk Software by 11.1% during the first quarter. California State Teachers Retirement System now owns 37,875 shares of the technology company’s stock valued at $10,061,000 after purchasing an additional 3,782 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in CyberArk Software by 527.2% during the first quarter. Cetera Investment Advisers now owns 11,452 shares of the technology company’s stock valued at $3,042,000 after purchasing an additional 9,626 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Trading Down 2.8 %

Shares of NASDAQ:CYBR opened at $318.78 on Friday. The company has a market capitalization of $13.89 billion, a PE ratio of 1,180.71 and a beta of 1.13. CyberArk Software Ltd. has a 12-month low of $192.57 and a 12-month high of $332.05. The business’s fifty day simple moving average is $294.26 and its 200-day simple moving average is $272.40.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CYBR shares. BTIG Research boosted their target price on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Truist Financial restated a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. Rosenblatt Securities reiterated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a report on Tuesday, August 6th. Finally, Wedbush increased their price target on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software 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.