DNB Asset Management AS Grows Position in CyberArk Software Ltd. $CYBR
DNB Asset Management AS increased its stake in CyberArk Software Ltd. by 53.1% in Q2, owning 10,229 shares worth $4,162,000. Other institutional investors also adjusted their positions. CyberArk's stock opened at $442.91, with a market cap of $22.36 billion. Analysts have set a hold rating with an average target price of $455.96. The company reported Q3 earnings of $1.20 per share, exceeding expectations, with revenue up 42.8% year-over-year.
DNB Asset Management AS raised its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 53.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,229 shares of the technology company's stock after purchasing an additional 3,549 shares during the quarter. DNB Asset Management AS's holdings in CyberArk Software were worth $4,162,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in CyberArk Software in the 2nd quarter worth $30,000. NewSquare Capital LLC raised its stake in shares of CyberArk Software by 78.0% in the second quarter. NewSquare Capital LLC now owns 73 shares of the technology company's stock worth $30,000 after purchasing an additional 32 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of CyberArk Software by 298.0% during the first quarter. Harbour Investments Inc. now owns 203 shares of the technology company's stock worth $69,000 after purchasing an additional 152 shares during the period. WPG Advisers LLC purchased a new stake in CyberArk Software in the first quarter valued at approximately $74,000. Finally, CWM LLC increased its holdings in CyberArk Software by 146.7% in the 1st quarter. CWM LLC now owns 222 shares of the technology company's stock worth $75,000 after buying an additional 132 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.
CyberArk Software Trading Up 0.6%
Shares of NASDAQ:CYBR opened at $442.91 on Tuesday. The business's 50 day moving average price is $493.82 and its 200-day moving average price is $435.70. 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 $22.36 billion, a price-to-earnings ratio of -131.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.31 and a quick ratio of 2.31.
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CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.28. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The company had revenue of $342.84 million during the quarter, compared to analysts' expectations of $328.52 million. During the same period in the prior year, the business posted $0.94 earnings per share. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. On average, equities research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have commented on CYBR. Rosenblatt Securities cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $445.00 price objective for the company. in a research note on Friday, August 1st. Guggenheim downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 price target on the stock. in a research report on Thursday, July 31st. KeyCorp downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Zacks Research raised CyberArk Software from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 19th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $448.00 price objective (up previously from $440.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CyberArk Software presently has an average rating of "Hold" and an average target price of $455.96.
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CyberArk Software Company Profile
(Free Report)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.
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