CyberArk Software Ltd. $CYBR Shares Purchased by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in CyberArk Software Ltd. by 328% during the first quarter, bringing its total holdings to 6,091 shares valued at approximately $2,059,000.
• Several hedge funds, including Invesco and Price T Rowe Associates, also raised their stakes in CyberArk Software, indicating strong institutional interest with nearly 91.84% of the stock owned by these entities.
• Analysts have mixed ratings on CyberArk, with a consensus target price of $435.11 and fourteen analysts issuing a "Buy" rating while seventeen have given it a "Hold" rating.

Canada Pension Plan Investment Board boosted its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 328.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,091 shares of the technology company's stock after buying an additional 4,668 shares during the quarter. Canada Pension Plan Investment Board's holdings in CyberArk Software were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in CyberArk Software by 3.6% during the 1st quarter. Venturi Wealth Management LLC now owns 834 shares of the technology company's stock valued at $282,000 after acquiring an additional 29 shares in the last quarter. Prudential PLC grew its position in shares of CyberArk Software by 2.4% in the first quarter. Prudential PLC now owns 1,277 shares of the technology company's stock valued at $432,000 after purchasing an additional 30 shares during the last quarter. Y.D. More Investments Ltd increased its stake in shares of CyberArk Software by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 6,974 shares of the technology company's stock worth $2,415,000 after purchasing an additional 38 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of CyberArk Software by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock worth $26,000 after purchasing an additional 39 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of CyberArk Software by 13.9% during the 1st quarter. Assetmark Inc. now owns 327 shares of the technology company's stock worth $111,000 after purchasing an additional 40 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CYBR shares. Royal Bank Of Canada reiterated a "sector perform" rating and set a $448.00 price objective (up previously from $420.00) on shares of CyberArk Software in a research report on Thursday, July 31st. Oppenheimer reaffirmed a "market perform" rating on shares of CyberArk Software in a research note on Friday, August 1st. Piper Sandler reiterated a "neutral" rating and set a $448.00 price target (up from $440.00) on shares of CyberArk Software in a report on Thursday, July 31st. Roth Capital started coverage on shares of CyberArk Software in a research report on Tuesday, May 13th. They issued a "buy" rating and a $415.00 price objective for the company. Finally, Needham & Company LLC upped their price objective on shares of CyberArk Software from $460.00 to $551.00 and gave the company a "buy" 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.com, the stock presently has a consensus rating of "Hold" and an average target price of $435.11.

CyberArk Software Trading Down 0.1%

NASDAQ:CYBR traded down $0.64 during trading hours on Wednesday, reaching $468.85. 777,239 shares of the company were exchanged, compared to its average volume of 934,699. The firm has a market cap of $23.18 billion, a price-to-earnings ratio of -139.12 and a beta of 1.03. The stock has a 50 day simple moving average of $416.48 and a 200 day simple moving average of $379.18. CyberArk Software Ltd. has a 52-week low of $259.08 and a 52-week high of $480.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.31 and a quick ratio of 2.31.

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