Exchange Traded Concepts LLC Sells 699 Shares of CyberArk Software Ltd. $CYBR

Key Points

• Exchange Traded Concepts LLC reduced its holdings in CyberArk Software by 7.2% during the second quarter, now owning 8,953 shares worth approximately $3.64 million.
• CyberArk Software's stock saw varied analyst ratings, with Guggenheim and Rosenblatt Securities downgrading their assessments from "strong-buy" to "hold," while Needham & Company increased its target price from $460 to $551.
• In its latest earnings report, CyberArk Software beat analyst estimates with an EPS of $0.88, reflecting a 46% increase in revenue year-over-year.

Exchange Traded Concepts LLC trimmed its holdings in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,953 shares of the technology company's stock after selling 699 shares during the period. Exchange Traded Concepts LLC's holdings in CyberArk Software were worth $3,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fulton Bank N.A. lifted its holdings in shares of CyberArk Software by 9.9% in the second quarter. Fulton Bank N.A. now owns 2,177 shares of the technology company's stock valued at $886,000 after purchasing an additional 196 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in CyberArk Software by 12.5% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,631 shares of the technology company's stock worth $1,884,000 after buying an additional 516 shares during the last quarter. Signal Advisors Wealth LLC acquired a new position in CyberArk Software during the second quarter worth approximately $1,584,000. Jackson Square Capital LLC increased its position in CyberArk Software by 1.1% during the second quarter. Jackson Square Capital LLC now owns 25,455 shares of the technology company's stock worth $10,357,000 after buying an additional 272 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in CyberArk Software during the second quarter worth approximately $148,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CYBR has been the topic of several research reports. Wedbush reaffirmed a "neutral" rating and issued a $450.00 target price on shares of CyberArk Software in a research report on Thursday, July 31st. Baird R W downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. William Blair downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Wolfe Research downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $448.00 target price (up previously from $440.00) on shares of CyberArk Software in a research report on Thursday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $435.11.

CyberArk Software Trading Down 1.8%

Shares of CYBR stock traded down $9.06 during mid-day trading on Tuesday, reaching $482.05. 344,899 shares of the stock traded hands, compared to its average volume of 924,508. The company has a market cap of $23.83 billion, a price-to-earnings ratio of -142.84 and a beta of 1.03. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. The stock's fifty day simple moving average is $430.67 and its two-hundred day simple moving average is $386.37. CyberArk Software Ltd. has a 1-year low of $269.00 and a 1-year high of $493.85.

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