ARK Investment Management LLC Sells 63,643 Shares of Cognyte Software Ltd. (NASDAQ:CGNT)

Key Points

• ARK Investment Management LLC reduced its holdings in Cognyte Software Ltd. by 24.4%, selling 63,643 shares, and now owns 197,018 shares valued at approximately $1.54 million.
• The stock has demonstrated volatility, with a 1-year low of $6.21 and a 1-year high of $11.65, and is currently priced at $9.30.
• Major institutional investors have increased their stakes, with Barclays PLC growing its holdings by 70% and Russell Investments Group Ltd. increasing theirs by an astonishing 1,695.7%.

ARK Investment Management LLC trimmed its position in Cognyte Software Ltd. (NASDAQ:CGNT - Free Report) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,018 shares of the company's stock after selling 63,643 shares during the quarter. ARK Investment Management LLC owned about 0.27% of Cognyte Software worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Barclays PLC raised its stake in Cognyte Software by 70.0% during the 4th quarter. Barclays PLC now owns 2,943 shares of the company's stock valued at $25,000 after purchasing an additional 1,212 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cognyte Software by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 99,980 shares of the company's stock valued at $865,000 after buying an additional 1,440 shares in the last quarter. Signaturefd LLC raised its stake in shares of Cognyte Software by 119.2% in the 1st quarter. Signaturefd LLC now owns 3,968 shares of the company's stock valued at $31,000 after buying an additional 2,158 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Cognyte Software by 1,695.7% in the 4th quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company's stock valued at $36,000 after buying an additional 3,900 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Cognyte Software by 16.4% in the 4th quarter. Algert Global LLC now owns 30,858 shares of the company's stock valued at $267,000 after buying an additional 4,340 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CGNT. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognyte Software in a report on Monday. Wall Street Zen upgraded shares of Cognyte Software from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 12th.

Cognyte Software Stock Performance

CGNT stock traded up $0.16 during mid-day trading on Wednesday, hitting $9.28. 32,543 shares of the company were exchanged, compared to its average volume of 335,152. Cognyte Software Ltd. has a 1-year low of $6.21 and a 1-year high of $11.65. The firm has a market cap of $668.33 million, a P/E ratio of -84.18 and a beta of 1.65. The firm's 50 day simple moving average is $9.68 and its 200 day simple moving average is $9.46.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter. Cognyte Software had a negative net margin of 2.18% and a negative return on equity of 3.53%. The company had revenue of $95.55 million for the quarter, compared to the consensus estimate of $93.96 million. On average, equities research analysts predict that Cognyte Software Ltd. will post -0.2 EPS for the current fiscal year.

Cognyte Software Company Profile

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.