Sandler Capital Management Sells 17,093 Shares of CyberArk Software Ltd. $CYBR

Key Points

• Sandler Capital Management reduced its holdings in CyberArk Software Ltd. by 71.1%, selling 17,093 shares, leaving them with 6,945 shares valued at approximately $2.35 million.
• Several institutional investors increased their stakes in CyberArk Software, with notable investments from Price T Rowe Associates, which raised its holdings by 1,598.3%, now owning 979,181 shares worth around $331 million.
• Analysts have downgraded CyberArk Software's ratings, with Stephens and KeyCorp moving their ratings from "strong-buy" to "hold," as the stock is currently rated "Hold" with an average target price of $435.11.

Sandler Capital Management trimmed its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 71.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,945 shares of the technology company's stock after selling 17,093 shares during the quarter. Sandler Capital Management's holdings in CyberArk Software were worth $2,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CYBR. 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 acquiring an additional 29 shares during 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 acquiring an additional 30 shares during the last quarter. MAI Capital Management boosted its stake in CyberArk Software by 1.1% in the first quarter. MAI Capital Management now owns 2,756 shares of the technology company's stock valued at $932,000 after acquiring an additional 31 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in CyberArk Software by 0.5% during 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 purchasing an additional 38 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in CyberArk Software by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock valued at $26,000 after purchasing an additional 39 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CYBR shares. Needham & Company LLC increased their price objective on CyberArk Software from $460.00 to $551.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. UBS Group lowered CyberArk Software from a "strong-buy" rating to a "hold" rating and increased their price objective for the company from $480.00 to $485.00 in a report on Thursday, July 31st. Stifel Nicolaus reissued a "hold" rating and set a $444.00 price objective on shares of CyberArk Software in a report on Thursday, July 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $420.00 price objective on shares of CyberArk Software in a report on Tuesday, July 22nd. Finally, BTIG Research lowered CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $435.11.

CyberArk Software Stock Performance

Shares of CyberArk Software stock traded up $0.69 during trading hours on Tuesday, reaching $469.49. The company had a trading volume of 428,286 shares, compared to its average volume of 983,483. CyberArk Software Ltd. has a one year low of $254.43 and a one year high of $471.20. The business has a fifty day simple moving average of $414.86 and a 200 day simple moving average of $378.56. 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 cap of $23.21 billion, a PE ratio of -139.31 and a beta of 1.03.

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 (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. The company had revenue of $328.03 million during the quarter, compared to analyst estimates of $315.43 million. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.The firm's quarterly revenue was up 46.0% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. On average, analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share 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.