Swedbank AB Sells 98,600 Shares of CyberArk Software Ltd. $CYBR

Key Points

• Swedbank AB reduced its stake in CyberArk Software Ltd. by 18.1%, owning approximately 446,500 shares valued at $150.92 million after selling 98,600 shares recently.
• CyberArk Software reported a quarterly earnings per share (EPS) of $0.88, surpassing analysts' expectations, with a revenue of $328.03 million, which represents a 46.0% increase year-over-year.
• Investment ratings for CyberArk vary, with the consensus rating being "Hold" and a current average price target of $435.11, indicating mixed analyst sentiment about the stock's future performance.

Swedbank AB trimmed its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 18.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 446,500 shares of the technology company's stock after selling 98,600 shares during the period. Swedbank AB owned about 0.90% of CyberArk Software worth $150,917,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its stake 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 worth $26,000 after acquiring an additional 39 shares during the period. Whipplewood Advisors LLC grew its stake in CyberArk Software by 135.3% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock worth $27,000 after acquiring an additional 46 shares during the period. Bessemer Group Inc. grew its stake in CyberArk Software by 421.1% in the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after acquiring an additional 80 shares during the period. Morse Asset Management Inc purchased a new stake in CyberArk Software in the 1st quarter worth approximately $34,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in CyberArk Software by 340.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 110 shares of the technology company's stock worth $37,000 after acquiring an additional 85 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Price Performance

NASDAQ:CYBR traded up $2.82 during trading hours on Wednesday, reaching $478.76. 729,243 shares of the company's stock were exchanged, compared to its average volume of 930,635. The company has a market capitalization of $23.67 billion, a P/E ratio of -142.07 and a beta of 1.03. CyberArk Software Ltd. has a 12 month low of $267.18 and a 12 month high of $482.76. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. The business's 50-day simple moving average is $422.38 and its two-hundred day simple moving average is $382.26.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. The business had revenue of $328.03 million during the quarter, compared to the consensus estimate of $315.43 million. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The firm's quarterly revenue was up 46.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. Sell-side analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $420.00 price objective on shares of CyberArk Software in a research note on Tuesday, July 22nd. Baird R W cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Scotiabank reissued a "sector perform" rating and set a $448.00 price objective (down from $460.00) on shares of CyberArk Software in a research note on Tuesday, August 5th. Robert W. Baird restated a "neutral" rating and set a $460.00 target price on shares of CyberArk Software in a report on Friday, August 1st. Finally, BTIG Research lowered shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Fourteen analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $435.11.

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.