ARK Investment Management LLC Sells 205 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

ARK Investment Management LLC lessened its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,137 shares of the technology company’s stock after selling 205 shares during the quarter. ARK Investment Management LLC’s holdings in CyberArk Software were worth $2,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in CyberArk Software by 64.7% during the first quarter. Geneos Wealth Management Inc. now owns 7,345 shares of the technology company’s stock worth $1,951,000 after purchasing an additional 2,885 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in CyberArk Software by 29.3% in the 1st quarter. Congress Asset Management Co. MA now owns 50,097 shares of the technology company’s stock worth $13,307,000 after purchasing an additional 11,345 shares in the last quarter. Contour Asset Management LLC bought a new position in CyberArk Software in the 4th quarter valued at approximately $48,605,000. Russell Investments Group Ltd. raised its stake in shares of CyberArk Software by 58.3% during the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after acquiring an additional 12,242 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in CyberArk Software during the 1st quarter worth about $2,741,000. Institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

CYBR has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Friday, August 9th. Barclays raised their target price on CyberArk Software from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Wedbush boosted their price target on CyberArk Software from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. JMP Securities restated a “market outperform” rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Monday, June 17th. Finally, Guggenheim reiterated a “buy” rating and set a $300.00 price objective on shares of CyberArk Software in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, CyberArk Software has an average rating of “Moderate Buy” and a consensus target price of $290.83.

CyberArk Software Stock Performance

CYBR stock traded up $1.17 during trading on Tuesday, hitting $281.67. 225,863 shares of the company’s stock traded hands, compared to its average volume of 539,846. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of -438.28 and a beta of 1.14. The business has a fifty day simple moving average of $266.08 and a 200 day simple moving average of $255.94. CyberArk Software Ltd. has a 52 week low of $152.03 and a 52 week high of $289.50.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The firm had revenue of $224.71 million during the quarter, compared to analysts’ expectations of $219.06 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.58) EPS. Research analysts forecast that CyberArk Software Ltd. will post -1.24 earnings per share for the current fiscal year.

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.