CyberArk Software Ltd. $CYBR Stock Position Reduced by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company has reduced its holdings in CyberArk Software Ltd. by 10.8%, now owning 96,153 shares worth approximately $32.5 million.
• Various institutional investors have increased their stakes in CyberArk Software, with notable increases from Golden State Wealth Management, Whipplewood Advisors, and Bessemer Group, indicating growing interest in the stock.
• CyberArk Software reported $328.03 million in revenue for the last quarter, exceeding estimates and marking a 46% year-over-year increase in revenue.

The Manufacturers Life Insurance Company reduced its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 10.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,153 shares of the technology company's stock after selling 11,698 shares during the period. The Manufacturers Life Insurance Company owned 0.19% of CyberArk Software worth $32,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CYBR. Venturi Wealth Management LLC lifted its position in CyberArk Software by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 834 shares of the technology company's stock worth $282,000 after buying an additional 29 shares during the period. Prudential PLC increased its stake in shares of CyberArk Software by 2.4% during the 1st 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. Y.D. More Investments Ltd lifted its holdings in shares of CyberArk Software by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 6,974 shares of the technology company's stock worth $2,415,000 after acquiring an additional 38 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of CyberArk Software by 100.0% during 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. Finally, Assetmark Inc. boosted its position in shares of CyberArk Software by 13.9% in the first quarter. Assetmark Inc. now owns 327 shares of the technology company's stock worth $111,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CYBR shares. Oppenheimer reaffirmed a "market perform" rating on shares of CyberArk Software in a research report on Friday, August 1st. Rosenblatt Securities cut CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $445.00 target price on the stock. in a report on Friday, August 1st. BTIG Research lowered CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Stephens cut CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Baird R W cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research 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 stock presently has a consensus rating of "Hold" and a consensus target price of $435.11.

CyberArk Software Stock Up 1.0%

CYBR stock traded up $4.67 during midday trading on Friday, hitting $462.77. 666,662 shares of the company's stock were exchanged, compared to its average volume of 1,048,381. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software Ltd. has a 12-month low of $254.43 and a 12-month high of $466.66. The firm has a 50 day moving average price of $412.06 and a 200-day moving average price of $377.32. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of -137.32 and a beta of 1.03.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its 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. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.The company had revenue of $328.03 million during the quarter, compared to analysts' expectations of $315.43 million. During the same period in the prior year, the business posted $0.54 EPS. The business's revenue was up 46.0% on a year-over-year basis. On average, analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

CyberArk Software Company 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.