Sycomore Asset Management Sells 28,983 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Sycomore Asset Management lowered its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 47.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,798 shares of the technology company’s stock after selling 28,983 shares during the quarter. CyberArk Software accounts for 1.3% of Sycomore Asset Management’s holdings, making the stock its 25th biggest holding. Sycomore Asset Management owned approximately 0.07% of CyberArk Software worth $9,138,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in CyberArk Software in the second quarter worth about $27,000. ORG Partners LLC purchased a new position in shares of CyberArk Software in the second quarter worth about $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of CyberArk Software in the second quarter worth about $39,000. Assetmark Inc. raised its stake in shares of CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after purchasing an additional 123 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in shares of CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

CyberArk Software Price Performance

Shares of CYBR traded up $17.37 during trading hours on Thursday, hitting $308.98. The company’s stock had a trading volume of 337,899 shares, compared to its average volume of 521,598. The business has a 50 day simple moving average of $283.62 and a two-hundred day simple moving average of $266.42. The company has a market cap of $13.46 billion, a price-to-earnings ratio of -967.16 and a beta of 1.13. CyberArk Software Ltd. has a 52-week low of $183.28 and a 52-week high of $318.16.

Wall Street Analysts Forecast Growth

CYBR has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a research note on Thursday. Truist Financial reiterated a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a report on Thursday. Wells Fargo & Company upped their price target on CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup upped their price target on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

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.