Nicholas Investment Partners LP Cuts Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Nicholas Investment Partners LP lessened its holdings in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 99.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,329 shares of the technology company's stock after selling 2,086,671 shares during the quarter. Nicholas Investment Partners LP's holdings in CyberArk Software were worth $4,441,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CYBR. Norges Bank bought a new stake in shares of CyberArk Software in the fourth quarter worth $203,375,000. Nepsis Inc. raised its position in CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company's stock worth $187,339,000 after acquiring an additional 505,088 shares in the last quarter. Jennison Associates LLC raised its position in shares of CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company's stock valued at $534,287,000 after purchasing an additional 391,900 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of CyberArk Software by 195.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company's stock valued at $170,614,000 after purchasing an additional 336,462 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of CyberArk Software in the fourth quarter valued at about $72,842,000. Institutional investors own 91.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CYBR. Oppenheimer raised their price target on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Robert W. Baird raised their price target on shares of CyberArk Software from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. JMP Securities raised their price target on shares of CyberArk Software from $390.00 to $480.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Barclays reaffirmed an "overweight" rating on shares of CyberArk Software in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company raised their price target on shares of CyberArk Software from $425.00 to $500.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $415.71.

CyberArk Software Stock Down 1.3%

CYBR stock traded down $4.44 during mid-day trading on Monday, reaching $350.56. 231,398 shares of the company traded hands, compared to its average volume of 541,858. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of -180.06 and a beta of 0.99. CyberArk Software Ltd. has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The firm's 50 day moving average price is $343.15 and its 200 day moving average price is $341.35.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. The firm had revenue of $317.60 million for the quarter, compared to the consensus estimate of $305.57 million. During the same quarter in the previous year, the business earned $0.75 EPS. The company's revenue was up 43.3% compared to the same quarter last year. On average, analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

About CyberArk Software

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.