CyberArk Software Ltd. $CYBR Position Boosted by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC dramatically increased its position in CyberArk Software by 865.3% in the 1st quarter, acquiring a total of 7,906 shares valued at $2.67 million.
• Other hedge funds, including Canada Pension Plan Investment Board and BNP Paribas Financial Markets, have also significantly boosted their stakes in CyberArk, with a total of 91.84% of the stock owned by institutional investors.
• CyberArk Software reported a quarterly earnings per share (EPS) of $0.88, exceeding analysts' expectations, with revenues increasing 46.0% year-over-year to $328.03 million.

Magnetar Financial LLC raised its holdings in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 865.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,906 shares of the technology company's stock after acquiring an additional 7,087 shares during the period. Magnetar Financial LLC's holdings in CyberArk Software were worth $2,672,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CYBR. Thoma Bravo L.P. acquired a new position in CyberArk Software in the 4th quarter valued at $380,637,000. Price T Rowe Associates Inc. MD raised its holdings in CyberArk Software by 1,598.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company's stock valued at $330,964,000 after acquiring an additional 921,523 shares during the last quarter. Congress Asset Management Co. raised its holdings in CyberArk Software by 304.2% in the 1st quarter. Congress Asset Management Co. now owns 332,770 shares of the technology company's stock valued at $112,476,000 after acquiring an additional 250,441 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in CyberArk Software in the 4th quarter valued at $72,842,000. Finally, BNP Paribas Financial Markets raised its holdings in CyberArk Software by 545.1% in the 1st quarter. BNP Paribas Financial Markets now owns 230,362 shares of the technology company's stock valued at $77,862,000 after acquiring an additional 194,651 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Stock Up 0.7%

NASDAQ:CYBR traded up $3.19 on Thursday, reaching $458.74. The stock had a trading volume of 492,144 shares, compared to its average volume of 933,715. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $409.68 and a 200 day moving average of $377.03. The stock has a market cap of $22.68 billion, a P/E ratio of -136.12 and a beta of 1.03. CyberArk Software Ltd. has a 12-month low of $254.43 and a 12-month high of $459.34.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. The company had revenue of $328.03 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 46.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. On average, research analysts predict that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

CYBR has been the subject of several research reports. Piper Sandler reissued a "neutral" rating and set a $448.00 price objective (up from $440.00) on shares of CyberArk Software in a research note on Thursday, July 31st. UBS Group cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and boosted their price objective for the company from $480.00 to $485.00 in a research note on Thursday, July 31st. Morgan Stanley reissued an "equal weight" rating on shares of CyberArk Software in a research note on Tuesday, May 13th. Baird R W cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus reissued a "hold" rating and set a $444.00 price objective 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 issued a Hold rating to the company's stock. According to data from MarketBeat, CyberArk Software currently has an average rating of "Hold" and an average price target of $435.11.

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.