HighTower Advisors LLC Trims Holdings in CyberArk Software Ltd. $CYBR

Key Points

• HighTower Advisors LLC reduced its holdings in CyberArk Software by 8.2% during the first quarter, ending with a portfolio value of $4.69 million.
• Several institutional investors, including Bessemer Group Inc. and Golden State Wealth Management LLC, significantly increased their positions in CyberArk Software, indicating strong investor interest.
• Analysts have downgrading recommendations for CyberArk Software, with a current average rating of "Hold" and a target price of approximately $435.11.

HighTower Advisors LLC trimmed its holdings in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,885 shares of the technology company's stock after selling 1,238 shares during the quarter. HighTower Advisors LLC's holdings in CyberArk Software were worth $4,693,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in shares of CyberArk Software by 100.0% in the 1st 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 during the period. Whipplewood Advisors LLC increased its holdings in shares of CyberArk Software by 135.3% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock valued at $27,000 after acquiring an additional 46 shares during the period. Bessemer Group Inc. increased its holdings in shares of CyberArk Software by 421.1% in the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock valued at $33,000 after acquiring an additional 80 shares during the period. Morse Asset Management Inc acquired a new position in shares of CyberArk Software in the 1st quarter valued at $34,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of CyberArk Software by 340.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 110 shares of the technology company's stock valued at $37,000 after acquiring an additional 85 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CYBR has been the topic of a number of recent research reports. Baird R W cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Needham & Company LLC boosted their price objective on shares of CyberArk Software from $460.00 to $551.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wedbush reissued a "neutral" rating and issued a $450.00 price objective on shares of CyberArk Software in a research note on Thursday, July 31st. 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 note on Friday, August 1st. Finally, Stifel Nicolaus restated a "hold" rating and set a $444.00 target price on shares of CyberArk Software in a research report on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $435.11.

CyberArk Software Trading Down 0.2%

NASDAQ:CYBR traded down $0.87 on Tuesday, reaching $438.04. The stock had a trading volume of 786,764 shares, compared to its average volume of 2,841,695. The company has a market cap of $21.65 billion, a price-to-earnings ratio of -129.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.31 and a quick ratio of 2.31. The firm's fifty day moving average is $402.45 and its two-hundred day moving average is $374.55. CyberArk Software Ltd. has a 12-month low of $254.43 and a 12-month high of $452.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. The company had revenue of $328.03 million for 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 0.44%. The firm's quarterly revenue was up 46.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Equities analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

About CyberArk Software

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.