LGT Group Foundation Boosts Stock Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Key Points

• LGT Group Foundation increased its stake in CyberArk Software by 8.5% in Q1, now holding 92,644 shares valued at approximately $31.3 million.
• Several institutional investors have also boosted their positions in CyberArk, with the company now having 91.84% ownership by hedge funds and institutional investors.
• CyberArk Software reported a revenue of $328.03 million for the most recent quarter, exceeding analysts' expectations and showing a 46% year-over-year growth.

LGT Group Foundation lifted its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,644 shares of the technology company's stock after purchasing an additional 7,241 shares during the quarter. LGT Group Foundation owned 0.19% of CyberArk Software worth $31,314,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its stake in CyberArk Software by 3.6% in the first quarter. Venturi Wealth Management LLC now owns 834 shares of the technology company's stock valued at $282,000 after buying an additional 29 shares in the last quarter. Prudential PLC boosted its stake in CyberArk Software by 2.4% in the first quarter. Prudential PLC now owns 1,277 shares of the technology company's stock valued at $432,000 after buying an additional 30 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in CyberArk Software by 0.5% in the first quarter. Y.D. More Investments Ltd now owns 6,974 shares of the technology company's stock valued at $2,415,000 after buying an additional 38 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in 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 buying an additional 39 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of CyberArk Software by 13.9% during the first quarter. Assetmark Inc. now owns 327 shares of the technology company's stock valued at $111,000 after purchasing an additional 40 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CYBR has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $448.00 price target (up from $420.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Needham & Company LLC lifted their price target on CyberArk Software from $460.00 to $551.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Roth Capital initiated coverage on CyberArk Software in a research note on Tuesday, May 13th. They set a "buy" rating and a $415.00 price target on the stock. Baird R W lowered CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, Scotiabank reissued a "sector perform" rating and set a $448.00 price target (down from $460.00) on shares of CyberArk Software in a research note on Tuesday, August 5th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $435.11.

CyberArk Software Stock Up 2.2%

Shares of NASDAQ:CYBR traded up $9.32 during mid-day trading on Friday, hitting $423.85. 1,037,868 shares of the company traded hands, compared to its average volume of 2,580,099. The stock has a market cap of $20.95 billion, a P/E ratio of -125.77 and a beta of 0.96. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software Ltd. has a 12-month low of $254.43 and a 12-month high of $452.00. The stock has a 50-day moving average price of $396.53 and a two-hundred day moving average price of $371.71.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating 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%. CyberArk Software's quarterly revenue was up 46.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, equities research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current 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.