CyberArk Software Ltd. (NASDAQ:CYBR) Stock Position Reduced by Spire Wealth Management

Spire Wealth Management lowered its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 61.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,843 shares of the technology company's stock after selling 2,913 shares during the period. Spire Wealth Management's holdings in CyberArk Software were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CYBR. Thoma Bravo L.P. purchased a new stake in shares of CyberArk Software in the fourth quarter worth about $380,637,000. First Trust Advisors LP lifted its stake in CyberArk Software by 2.3% during the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company's stock worth $313,084,000 after purchasing an additional 20,832 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of CyberArk Software by 8.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company's stock valued at $292,651,000 after buying an additional 68,359 shares during the last quarter. Norges Bank acquired a new position in CyberArk Software during the 4th quarter valued at approximately $203,375,000. Finally, Driehaus Capital Management LLC grew its holdings in CyberArk Software by 31.5% in the 4th quarter. Driehaus Capital Management LLC now owns 478,096 shares of the technology company's stock worth $159,278,000 after buying an additional 114,622 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

CyberArk Software Stock Performance

Shares of CYBR traded down $3.29 during mid-day trading on Wednesday, hitting $388.44. 277,893 shares of the company's stock were exchanged, compared to its average volume of 559,036. The company has a market cap of $19.20 billion, a price-to-earnings ratio of -208.84 and a beta of 1.00. The stock's 50-day moving average is $375.89 and its 200-day moving average is $358.27. CyberArk Software Ltd. has a fifty-two week low of $230.00 and a fifty-two week high of $421.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $305.57 million. During the same period last year, the business posted $0.75 EPS. The company's revenue was up 43.3% on a year-over-year basis. As a group, equities research analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Analyst Ratings Changes

CYBR has been the topic of several research reports. DA Davidson upped their price target on CyberArk Software from $435.00 to $465.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Truist Financial lowered their price target on CyberArk Software from $450.00 to $425.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Morgan Stanley reaffirmed an "equal weight" rating on shares of CyberArk Software in a research report on Tuesday, May 13th. Rosenblatt Securities reiterated a "buy" rating and issued a $445.00 target price on shares of CyberArk Software in a research note on Tuesday, May 13th. Finally, Roth Capital initiated coverage on CyberArk Software in a research note on Tuesday, May 13th. They issued a "buy" rating and a $415.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CyberArk Software presently has a consensus rating of "Moderate Buy" and a consensus target price of $416.79.

CyberArk Software 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.