Granahan Investment Management LLC Reduces Stock Holdings in CyberArk Software Ltd. $CYBR

Key Points

• Granahan Investment Management LLC reduced its stake in CyberArk Software Ltd. by 42.2%, selling 15,614 shares during the first quarter, leaving it with 21,424 shares worth approximately $7.24 million.
• Bessemer Group Inc. significantly increased its position in CyberArk Software by 421.1%, illustrating varied institutional interest in the company.
• CyberArk reported a 46.0% year-over-year revenue growth, with earnings per share of $0.88, exceeding analyst estimates of $0.79.

Granahan Investment Management LLC trimmed its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,424 shares of the technology company's stock after selling 15,614 shares during the quarter. Granahan Investment Management LLC's holdings in CyberArk Software were worth $7,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC raised its holdings in shares of CyberArk Software by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock valued at $26,000 after acquiring an additional 39 shares in the last quarter. Whipplewood Advisors LLC grew its stake in CyberArk Software by 135.3% in the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. Bessemer Group Inc. grew its stake in CyberArk Software by 421.1% in the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Morse Asset Management Inc purchased a new position in CyberArk Software in the first quarter valued at about $34,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in CyberArk Software by 340.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 110 shares of the technology company's stock valued at $37,000 after purchasing an additional 85 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CYBR has been the topic of a number of research analyst reports. Stifel Nicolaus restated a "hold" rating and set a $444.00 price target on shares of CyberArk Software in a research note on Thursday, July 31st. Wolfe Research downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Barclays upped their target price on CyberArk Software from $405.00 to $440.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wedbush reaffirmed a "neutral" rating and set a $450.00 target price on shares of CyberArk Software in a research note on Thursday, July 31st. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $448.00 target price (up from $440.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $435.11.

CyberArk Software Stock Performance

CYBR traded up $1.80 during trading on Wednesday, hitting $471.29. 330,614 shares of the stock were exchanged, compared to its average volume of 926,670. The firm has a market capitalization of $23.30 billion, a P/E ratio of -140.04 and a beta of 1.03. CyberArk Software Ltd. has a 1-year low of $259.08 and a 1-year high of $480.59. The stock has a fifty day moving average price of $414.86 and a two-hundred day moving average price of $378.56. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53.

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

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.