Truist Financial Corp Lowers Stock Holdings in CyberArk Software Ltd. $CYBR

Key Points

• Truist Financial Corp has reduced its stake in CyberArk Software Ltd. by 6.3%, leaving the firm with 28,171 shares valued at approximately $11.46 million.
• Despite Truist's decrease in holdings, several hedge funds like Venturi Wealth Management and Prudential PLC have increased their investments in CyberArk.
• Wall Street analysts maintain a mixed outlook on CyberArk, with 12 analysts rating it as a Buy and 19 as a Hold, setting a consensus price target of $439.00.

Truist Financial Corp reduced its position in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 6.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,171 shares of the technology company's stock after selling 1,900 shares during the period. Truist Financial Corp owned about 0.06% of CyberArk Software worth $11,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in CyberArk Software by 3.6% in the 1st quarter. Venturi Wealth Management LLC now owns 834 shares of the technology company's stock worth $282,000 after acquiring an additional 29 shares during the period. Prudential PLC grew its stake in CyberArk Software by 2.4% in the 1st quarter. Prudential PLC now owns 1,277 shares of the technology company's stock worth $432,000 after acquiring an additional 30 shares during the period. MAI Capital Management grew its stake in CyberArk Software by 1.1% in the 1st quarter. MAI Capital Management now owns 2,756 shares of the technology company's stock worth $932,000 after acquiring an additional 31 shares during the period. Y.D. More Investments Ltd grew its stake in CyberArk Software by 0.5% in 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. Finally, 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. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CYBR. Piper Sandler reaffirmed a "neutral" rating and issued a $448.00 target price (up from $440.00) on shares of CyberArk Software in a research note on Thursday, July 31st. KeyCorp cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. William Blair cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. UBS Group cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and boosted their price objective for the company from $480.00 to $485.00 in a research note on Thursday, July 31st. Finally, Guggenheim cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 price objective for the company. in a research note on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $439.00.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $490.39 on Friday. CyberArk Software Ltd. has a 12 month low of $271.68 and a 12 month high of $501.08. 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 capitalization of $24.75 billion, a P/E ratio of -145.52 and a beta of 1.01. The company's fifty day moving average price is $449.49 and its two-hundred day moving average price is $395.33.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The firm had revenue of $328.03 million for the quarter, compared to analyst estimates of $315.43 million. During the same quarter in the previous year, the business posted $0.54 EPS. The firm's revenue was up 46.0% compared to the same quarter last year. On average, research 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.

Want to see what other hedge funds are holding CYBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CyberArk Software Ltd. (NASDAQ:CYBR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.