Norges Bank Makes New Investment in CyberArk Software Ltd. (NASDAQ:CYBR)

Norges Bank purchased a new stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 610,461 shares of the technology company’s stock, valued at approximately $203,375,000.

Several other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in CyberArk Software during the fourth quarter worth about $25,000. TD Private Client Wealth LLC raised its holdings in shares of CyberArk Software by 79.1% in the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after purchasing an additional 34 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in CyberArk Software during the fourth quarter valued at approximately $39,000. Graney & King LLC bought a new stake in CyberArk Software during the fourth quarter worth approximately $43,000. Finally, Montag A & Associates Inc. grew its position in CyberArk Software by 47.2% in the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Price Performance

NASDAQ CYBR opened at $335.74 on Monday. CyberArk Software Ltd. has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The stock’s 50-day moving average is $364.16 and its two-hundred day moving average is $326.66. The firm has a market cap of $16.59 billion, a P/E ratio of -172.17 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, equities analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup increased their price objective on CyberArk Software from $410.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Robert W. Baird increased their price target on CyberArk Software from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Rosenblatt Securities restated a “buy” rating and set a $445.00 price objective on shares of CyberArk Software in a report on Wednesday, February 26th. JMP Securities raised their target price on shares of CyberArk Software from $390.00 to $480.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Piper Sandler boosted their price target on shares of CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $418.15.

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.