Spyglass Capital Management LLC Makes New $38.72 Million Investment in CyberArk Software Ltd. (NASDAQ:CYBR)

Spyglass Capital Management LLC purchased a new stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 116,221 shares of the technology company's stock, valued at approximately $38,719,000. CyberArk Software makes up 2.2% of Spyglass Capital Management LLC's investment portfolio, making the stock its 24th largest position. Spyglass Capital Management LLC owned approximately 0.27% of CyberArk Software at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in CyberArk Software in the 4th quarter valued at about $25,000. TD Private Client Wealth LLC lifted its stake in CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company's stock valued at $26,000 after acquiring an additional 34 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in CyberArk Software in the fourth quarter valued at approximately $39,000. Graney & King LLC acquired a new stake in shares of CyberArk Software in the fourth quarter worth $43,000. Finally, Montag A & Associates Inc. lifted its stake in shares of CyberArk Software by 47.2% in the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company's stock worth $44,000 after buying an additional 42 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Stock Performance

NASDAQ CYBR traded up $19.74 on Thursday, reaching $373.81. 1,252,414 shares of the stock traded hands, compared to its average volume of 546,005. The company has a fifty day moving average price of $344.32 and a 200-day moving average price of $342.04. The company has a market cap of $18.48 billion, a price-to-earnings ratio of -191.70 and a beta of 0.99. CyberArk Software Ltd. has a 12 month low of $223.41 and a 12 month high of $421.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. The firm had revenue of $317.60 million during the quarter, compared to analyst estimates of $305.57 million. During the same period in the previous year, the company posted $0.75 EPS. The business's revenue for the quarter was up 43.3% compared to the same quarter last year. As a group, research analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stephens began coverage on shares of CyberArk Software in a research note on Tuesday, April 1st. They set an "overweight" rating and a $440.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 price objective on shares of CyberArk Software in a report on Tuesday, May 13th. Truist Financial decreased their price objective on shares of CyberArk Software from $450.00 to $425.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Royal Bank of Canada reissued an "outperform" rating and set a $420.00 price objective on shares of CyberArk Software in a report on Tuesday, May 13th. Finally, Wall Street Zen lowered shares of CyberArk Software from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $415.71.

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.