Nordea Investment Management AB Raises Stake in CyberArk Software Ltd. $CYBR

Key Points

• Nordea Investment Management AB increased its stake in CyberArk Software by 31.6% in Q2, raising its holdings to 6,183 shares valued at approximately $2.5 million.
• Several analysts have recently changed their ratings on CyberArk Software, with a consensus rating of "Hold" and an average price target of $448.85.
• CyberArk Software reported a revenue of $328.03 million for the last quarter, exceeding expectations and marking a 46% increase compared to the same period last year.

Nordea Investment Management AB boosted its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 31.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,183 shares of the technology company's stock after buying an additional 1,485 shares during the quarter. Nordea Investment Management AB's holdings in CyberArk Software were worth $2,500,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of CyberArk Software by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 834 shares of the technology company's stock valued at $282,000 after acquiring an additional 29 shares in the last quarter. Prudential PLC increased its holdings in CyberArk Software by 2.4% during the 1st quarter. Prudential PLC now owns 1,277 shares of the technology company's stock worth $432,000 after purchasing an additional 30 shares during the period. MAI Capital Management raised its position in CyberArk Software by 1.1% during the 1st quarter. MAI Capital Management now owns 2,756 shares of the technology company's stock valued at $932,000 after purchasing an additional 31 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of CyberArk Software by 0.5% in the 1st quarter. Y.D. More Investments Ltd now owns 6,974 shares of the technology company's stock worth $2,415,000 after buying an additional 38 shares during the period. Finally, Golden State Wealth Management LLC grew its position in shares of CyberArk Software by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock worth $26,000 after buying an additional 39 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CYBR shares. Wedbush restated a "neutral" rating and issued a $450.00 price target on shares of CyberArk Software in a report on Thursday, July 31st. Royal Bank Of Canada restated a "sector perform" rating and issued a $448.00 target price (up from $420.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Canaccord Genuity Group downgraded CyberArk Software from a "buy" rating to a "hold" rating and upped their price target for the stock from $440.00 to $502.00 in a research report on Wednesday, October 15th. KeyCorp cut CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, UBS Group downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and boosted their target price for the stock from $480.00 to $485.00 in a research note on Thursday, July 31st. Ten research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of "Hold" and an average price target of $448.85.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $501.20 on Thursday. The business has a fifty day moving average of $472.21 and a 200 day moving average of $409.07. CyberArk Software Ltd. has a 1 year low of $271.68 and a 1 year high of $514.28. 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 has a market capitalization of $25.30 billion, a price-to-earnings ratio of -148.72 and a beta of 1.01.

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

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