Summit Financial LLC Has $5.66 Million Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Summit Financial LLC lifted its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,991 shares of the technology company’s stock after purchasing an additional 116 shares during the period. Summit Financial LLC’s holdings in CyberArk Software were worth $5,661,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its holdings in shares of CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after buying an additional 2,062 shares during the last quarter. Groupama Asset Managment raised its stake in CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in CyberArk Software in the 3rd quarter valued at $8,612,000. CHURCHILL MANAGEMENT Corp acquired a new stake in CyberArk Software in the 4th quarter worth $764,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of CyberArk Software during the fourth quarter valued at about $1,166,000. Institutional investors own 91.84% of the company’s stock.

CyberArk Software Trading Down 1.6 %

CYBR opened at $335.74 on Monday. CyberArk Software Ltd. has a 1-year low of $223.41 and a 1-year high of $421.00. The stock has a market capitalization of $16.59 billion, a PE ratio of -172.17 and a beta of 1.06. The firm has a 50-day moving average price of $364.16 and a two-hundred day moving average price of $326.66.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results 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, research analysts predict that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CYBR. Piper Sandler boosted their price target on CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and set a $445.00 price objective on shares of CyberArk Software in a research report on Wednesday, February 26th. StockNews.com cut CyberArk Software from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. JMP Securities boosted their price target on shares of CyberArk Software from $390.00 to $480.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, KeyCorp raised their price objective on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.