Norden Group LLC Acquires 2,555 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Key Points

• Norden Group LLC increased its stake in CyberArk Software by 56.4%, acquiring an additional 2,555 shares during the 1st quarter, bringing their total holdings to 7,086 shares valued at approximately $2.4 million.
• Several institutional investors, including Golden State Wealth Management and Bessemer Group, significantly increased their positions in CyberArk, reflecting an overall trend of institutional ownership standing at 91.84%.
• Analysts maintain bullish sentiment on CyberArk Software, with a consensus rating of "Moderate Buy" and a target price averaging around $418.75, illustrating confidence in the company's growth potential despite recent price adjustments.

Norden Group LLC raised its position in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 56.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,086 shares of the technology company's stock after buying an additional 2,555 shares during the quarter. Norden Group LLC's holdings in CyberArk Software were worth $2,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC increased its position in 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 raised its holdings in CyberArk Software by 135.3% during the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock worth $27,000 after buying an additional 46 shares during the last quarter. Bessemer Group Inc. boosted its stake in CyberArk Software by 421.1% during the 1st 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 bought a new stake in CyberArk Software during the first quarter worth $34,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CYBR shares. KeyCorp cut their price target on shares of CyberArk Software from $485.00 to $425.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays raised 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. DA Davidson increased their price objective on CyberArk Software from $435.00 to $465.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Rosenblatt Securities reissued a "buy" rating and issued a $445.00 price target on shares of CyberArk Software in a research note on Tuesday, May 13th. Finally, Truist Financial decreased their price objective on CyberArk Software from $450.00 to $425.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $418.75.

CyberArk Software Price Performance

NASDAQ CYBR opened at $378.72 on Monday. CyberArk Software Ltd. has a 1-year low of $230.00 and a 1-year high of $421.00. The stock has a 50-day moving average of $386.70 and a two-hundred day moving average of $365.78. The company has a market cap of $18.72 billion, a P/E ratio of -203.61 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.71% and a negative net margin of 7.97%. The company had revenue of $317.60 million for the quarter, compared to analysts' expectations of $305.57 million. During the same period last year, the firm earned $0.75 earnings per share. CyberArk Software's quarterly revenue was up 43.3% on a year-over-year basis. On average, analysts anticipate 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.

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