KLP Kapitalforvaltning AS Raises Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Key Points

• KLP Kapitalforvaltning AS increased its position in CyberArk Software by 14.0%, acquiring an additional 1,900 shares to reach a total of 15,450 shares worth approximately $5.2 million.
• Multiple institutional investors, including Vanguard Group and Korea Investment CORP, also raised their stakes in CyberArk, highlighting strong institutional interest with 91.84% of the stock owned by such investors.
• The company recently beat EPS estimates with $0.98 reported for the last quarter, up from the prior year’s $0.75, while revenue increased by 43.3% compared to the same period last year.

KLP Kapitalforvaltning AS lifted its holdings in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,450 shares of the technology company's stock after buying an additional 1,900 shares during the quarter. KLP Kapitalforvaltning AS's holdings in CyberArk Software were worth $5,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of CyberArk Software during the first quarter valued at approximately $5,166,000. Y Intercept Hong Kong Ltd purchased a new position in CyberArk Software in the first quarter worth about $2,926,000. Crestwood Advisors Group LLC boosted its stake in shares of CyberArk Software by 205.0% during the 1st quarter. Crestwood Advisors Group LLC now owns 4,621 shares of the technology company's stock worth $1,562,000 after acquiring an additional 3,106 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of CyberArk Software by 122.9% during the 1st quarter. Allianz Asset Management GmbH now owns 52,027 shares of the technology company's stock valued at $17,585,000 after buying an additional 28,688 shares in the last quarter. Finally, Wealth Alliance LLC lifted its position in shares of CyberArk Software by 7.6% in the first quarter. Wealth Alliance LLC now owns 1,837 shares of the technology company's stock valued at $621,000 after acquiring an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

CyberArk Software Price Performance

CyberArk Software stock traded down $2.95 during trading hours on Tuesday, hitting $379.97. 77,902 shares of the stock traded hands, compared to its average volume of 664,942. The firm's 50 day moving average price is $387.37 and its 200-day moving average price is $366.05. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of -204.28 and a beta of 1.00. CyberArk Software Ltd. has a 1 year low of $230.00 and a 1 year high of $421.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its earnings results on Tuesday, May 13th. The technology company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.19. The firm had revenue of $317.60 million for the quarter, compared to analyst estimates of $305.57 million. CyberArk Software had a positive return on equity of 0.71% and a negative net margin of 7.97%. CyberArk Software's revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CYBR shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $420.00 target price on shares of CyberArk Software in a research report on Tuesday, July 22nd. KeyCorp decreased their price objective on CyberArk Software from $485.00 to $425.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Morgan Stanley reaffirmed an "equal weight" rating on shares of CyberArk Software in a research note on Tuesday, May 13th. Robert W. Baird increased their target price on shares of CyberArk Software from $450.00 to $460.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Finally, Stephens initiated coverage on shares of CyberArk Software in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $440.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $418.75.

CyberArk Software 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.