Panagora Asset Management Inc. Purchases 16,293 Shares of CyberArk Software Ltd. $CYBR

Key Points

• Panagora Asset Management Inc. significantly increased its stake in CyberArk Software Ltd. by 2,502.8%, totaling $5.73 million with nearly 17,000 shares acquired in the first quarter.
• CyberArk Software's stock received multiple downgrades from analysts, changing its rating from "strong-buy" to "hold," while the consensus target price is set at $435.11.
• In its latest earnings report, CyberArk reported $0.88 EPS, exceeding estimates, with revenue rising by 46% year-over-year to $328.03 million.

Panagora Asset Management Inc. lifted its stake in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 2,502.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,944 shares of the technology company's stock after buying an additional 16,293 shares during the quarter. Panagora Asset Management Inc.'s holdings in CyberArk Software were worth $5,727,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Stony Point Capital LLC lifted its stake in CyberArk Software by 130.7% in the 1st quarter. Stony Point Capital LLC now owns 48,300 shares of the technology company's stock worth $16,325,000 after purchasing an additional 27,360 shares in the last quarter. Vident Advisory LLC grew its holdings in CyberArk Software by 145.6% during the 1st quarter. Vident Advisory LLC now owns 133,296 shares of the technology company's stock valued at $45,054,000 after buying an additional 79,030 shares in the last quarter. Magnetar Financial LLC increased its stake in CyberArk Software by 865.3% in the 1st quarter. Magnetar Financial LLC now owns 7,906 shares of the technology company's stock worth $2,672,000 after acquiring an additional 7,087 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of CyberArk Software by 328.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,091 shares of the technology company's stock worth $2,059,000 after acquiring an additional 4,668 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of CyberArk Software during the 1st quarter valued at approximately $74,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Trading Up 1.0%

CyberArk Software stock traded up $4.67 during mid-day trading on Friday, hitting $462.77. The company's stock had a trading volume of 666,662 shares, compared to its average volume of 1,048,381. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.31 and a current ratio of 2.31. The company has a 50 day moving average of $412.06 and a 200-day moving average of $377.32. CyberArk Software Ltd. has a one year low of $254.43 and a one year high of $466.66. The stock has a market cap of $22.87 billion, a PE ratio of -137.32 and a beta of 1.03.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued 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 firm had revenue of $328.03 million during 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 business's revenue was up 46.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. On average, research analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on CYBR. BTIG Research downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. KeyCorp downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wedbush reissued a "neutral" rating and set a $450.00 price objective on shares of CyberArk Software in a research note on Thursday, July 31st. Stephens downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Baird R W cut CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $435.11.

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.