Legal & General Group Plc Grows Stock Position in CyberArk Software Ltd. $CYBR

Legal & General Group Plc raised its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,313 shares of the technology company’s stock after buying an additional 41,340 shares during the quarter. Legal & General Group Plc’s holdings in CyberArk Software were worth $296,805,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of CyberArk Software during the 2nd quarter worth $444,613,000. Barclays PLC increased its holdings in CyberArk Software by 948.3% in the 3rd quarter. Barclays PLC now owns 471,411 shares of the technology company’s stock worth $227,762,000 after acquiring an additional 426,441 shares during the last quarter. Citigroup Inc. raised its stake in CyberArk Software by 144.8% in the 3rd quarter. Citigroup Inc. now owns 565,048 shares of the technology company’s stock valued at $273,003,000 after acquiring an additional 334,181 shares during the period. Alpine Associates Management Inc. bought a new stake in CyberArk Software in the 3rd quarter valued at about $98,635,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in CyberArk Software by 85.3% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 362,752 shares of the technology company’s stock valued at $147,597,000 after purchasing an additional 167,000 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Down 0.1%

CYBR stock opened at $408.85 on Thursday. The stock has a 50-day simple moving average of $425.65 and a two-hundred day simple moving average of $458.94. CyberArk Software Ltd. has a twelve month low of $288.63 and a twelve month high of $526.19. The firm has a market capitalization of $20.64 billion, a PE ratio of -139.54, a PEG ratio of 18.11 and a beta of 0.91. The company has a quick ratio of 2.14, a current ratio of 2.00 and a debt-to-equity ratio of 0.51.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Wednesday, February 4th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.18. CyberArk Software had a negative net margin of 10.79% and a positive return on equity of 0.77%. The firm had revenue of $372.65 million for the quarter, compared to the consensus estimate of $377.22 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, equities analysts predict that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CYBR. Mizuho cut their target price on shares of CyberArk Software from $520.00 to $470.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Zacks Research raised shares of CyberArk Software from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Barclays cut their price objective on shares of CyberArk Software from $520.00 to $460.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Piper Sandler set a $474.00 price objective on shares of CyberArk Software in a research note on Wednesday, December 17th. Finally, DA Davidson boosted their target price on shares of CyberArk Software from $518.00 to $573.00 and gave the company a “buy” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $459.95.

About CyberArk Software

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.