NewEdge Advisors LLC Sells 678 Shares of CyberArk Software Ltd. $CYBR

Key Points

• NewEdge Advisors LLC reduced its holdings in CyberArk Software Ltd. by 8.6%, owning 7,212 shares worth $2.43 million after selling 678 shares in the first quarter.
• CyberArk Software had a productive quarter, reporting $0.88 earnings per share, surpassing analysts' expectations of $0.79, alongside a revenue increase of 46% year-over-year.
• CyberArk Software stock currently holds an average rating of "Hold" from analysts, with a price target of approximately $435.11.

NewEdge Advisors LLC lowered its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,212 shares of the technology company's stock after selling 678 shares during the period. NewEdge Advisors LLC's holdings in CyberArk Software were worth $2,438,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Thoma Bravo L.P. purchased a new position in CyberArk Software in the 4th quarter valued at approximately $380,637,000. Invesco Ltd. lifted its holdings in shares of CyberArk Software by 12.2% during the 1st quarter. Invesco Ltd. now owns 1,129,894 shares of the technology company's stock worth $381,904,000 after acquiring an additional 122,423 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of CyberArk Software by 1,598.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company's stock worth $330,964,000 after acquiring an additional 921,523 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CyberArk Software by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 675,032 shares of the technology company's stock worth $228,161,000 after purchasing an additional 106,435 shares during the last quarter. Finally, Amundi lifted its stake in CyberArk Software by 153.5% in the first quarter. Amundi now owns 547,466 shares of the technology company's stock worth $179,547,000 after purchasing an additional 331,498 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports 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 on the stock. in a research report on Friday, August 1st. KeyCorp cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Royal Bank Of Canada restated 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 restated a "market perform" rating on shares of CyberArk Software in a research report on Friday, August 1st. Finally, Wolfe Research downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to MarketBeat, CyberArk Software presently has a consensus rating of "Hold" and an average target price of $435.11.

CyberArk Software Price Performance

CYBR traded down $4.89 during trading on Friday, hitting $466.30. 639,038 shares of the company traded hands, compared to its average volume of 898,057. CyberArk Software Ltd. has a 1 year low of $266.64 and a 1 year high of $480.59. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. The stock's 50-day simple moving average is $419.28 and its two-hundred day simple moving average is $380.62. The company has a market cap of $23.05 billion, a PE ratio of -138.37 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 EPS for the quarter, beating 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 business had revenue of $328.03 million during the quarter, compared to analyst estimates of $315.43 million. During the same quarter last year, the business earned $0.54 earnings per share. CyberArk Software's quarterly revenue was up 46.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

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.