Thornburg Investment Management Inc. Sells 2,132 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Key Points

• Thornburg Investment Management Inc. reduced its stake in CyberArk Software by 7.9%, now owning 24,847 shares worth approximately $8.4 million.
• CyberArk Software's revenue for the latest quarter was $317.60 million, surpassing analysts’ expectations and showing a 43.3% year-over-year increase.
• Analysts have a generally positive outlook on CyberArk, with twenty-six buy ratings, one strong buy, and an average price target of $418.75.

Thornburg Investment Management Inc. reduced its position in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,847 shares of the technology company's stock after selling 2,132 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.05% of CyberArk Software worth $8,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thoma Bravo L.P. bought a new stake in CyberArk Software in the fourth quarter valued at about $380,637,000. First Trust Advisors LP increased its holdings in CyberArk Software by 2.3% in the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company's stock valued at $313,084,000 after buying an additional 20,832 shares during the last quarter. Norges Bank bought a new stake in CyberArk Software in the fourth quarter valued at about $203,375,000. Driehaus Capital Management LLC increased its holdings in CyberArk Software by 31.5% in the fourth quarter. Driehaus Capital Management LLC now owns 478,096 shares of the technology company's stock valued at $159,278,000 after buying an additional 114,622 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in CyberArk Software by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 392,006 shares of the technology company's stock valued at $130,088,000 after acquiring an additional 19,775 shares during the period. 91.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $450.00 price objective for the company. in a research report on Thursday. Needham & Company LLC boosted their price objective on CyberArk Software from $460.00 to $551.00 and gave the stock a "buy" rating in a research report on Wednesday. BTIG Research downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Guggenheim downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 price objective for the company. in a research report on Thursday. Finally, Wolfe Research reissued a "peer perform" rating on shares of CyberArk Software in a report on Friday. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $433.39.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR traded up $2.53 during midday trading on Friday, hitting $414.00. 3,227,349 shares of the company's stock traded hands, compared to its average volume of 872,379. CyberArk Software Ltd. has a 1 year low of $230.00 and a 1 year high of $452.00. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of -122.85 and a beta of 1.00. The firm has a fifty day moving average of $391.33 and a 200 day moving average of $367.51.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. The firm had revenue of $328.03 million during the quarter, compared to analyst estimates of $315.43 million. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.45%. The business's revenue for the quarter was up 46.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. On average, equities analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share for the current 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.