CyberArk Software Ltd. $CYBR Shares Sold by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management Inc. has reduced its stake in CyberArk Software Ltd. by 27.4%, owning 47,565 shares valued at approximately $16.08 million after the sale.
• Multiple institutional investors, including Dimensional Fund Advisors and Northern Trust Corp, have increased their holdings in CyberArk, indicating strong interest in the company despite Ashford's reduction.
• Analysts have downgraded CyberArk from strong-buy to hold, with a consensus target price now around $435.11, showcasing a cautious outlook for the stock.

Ashford Capital Management Inc. lowered its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 27.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,565 shares of the technology company's stock after selling 17,995 shares during the period. CyberArk Software comprises 2.1% of Ashford Capital Management Inc.'s portfolio, making the stock its 23rd largest holding. Ashford Capital Management Inc. owned approximately 0.10% of CyberArk Software worth $16,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in shares of CyberArk Software by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock worth $26,000 after buying an additional 39 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in shares of CyberArk Software by 135.3% during the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock worth $27,000 after buying an additional 46 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of CyberArk Software by 421.1% during the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after buying an additional 80 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of CyberArk Software during the first quarter worth about $34,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of CyberArk Software by 340.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 110 shares of the technology company's stock worth $37,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

CyberArk Software Trading Up 0.5%

CYBR traded up $2.38 during trading on Wednesday, hitting $455.55. 625,146 shares of the company's stock were exchanged, compared to its average volume of 936,282. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software Ltd. has a 1 year low of $254.43 and a 1 year high of $457.07. The stock has a 50 day moving average price of $408.55 and a 200 day moving average price of $376.49. The firm has a market cap of $22.52 billion, a P/E ratio of -135.18 and a beta of 1.03.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The company had revenue of $328.03 million during the quarter, compared to the consensus estimate of $315.43 million. During the same period in the previous year, the firm earned $0.54 earnings per share. CyberArk Software's revenue for the quarter was up 46.0% on a year-over-year basis. As a group, analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CYBR shares. William Blair downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Robert W. Baird reiterated a "neutral" rating and set a $460.00 price target on shares of CyberArk Software in a report on Friday, August 1st. UBS Group downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from $480.00 to $485.00 in a report on Thursday, July 31st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $448.00 price target (up previously from $420.00) on shares of CyberArk Software in a research report on Thursday, July 31st. Finally, BTIG Research downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $435.11.

CyberArk Software Company 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.