Citigroup Inc. Lowers Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Citigroup Inc. decreased its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 72.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 235,857 shares of the technology company’s stock after selling 607,770 shares during the period. Citigroup Inc.’s holdings in CyberArk Software were worth $68,778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CYBR. Greenleaf Trust boosted its position in shares of CyberArk Software by 2.5% during the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after acquiring an additional 45 shares during the last quarter. Signaturefd LLC raised its stake in CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares in the last quarter. Austin Private Wealth LLC lifted its position in CyberArk Software by 6.8% during the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after purchasing an additional 52 shares during the last quarter. Arcadia Investment Management Corp MI grew its stake in CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares in the last quarter. Finally, Juncture Wealth Strategies LLC increased its holdings in shares of CyberArk Software by 2.1% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after buying an additional 57 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Trading Down 2.9 %

Shares of CyberArk Software stock opened at $319.73 on Friday. CyberArk Software Ltd. has a 12-month low of $191.25 and a 12-month high of $332.05. The company has a market cap of $13.93 billion, a P/E ratio of 1,184.23 and a beta of 1.13. The company’s fifty day simple moving average is $290.18 and its two-hundred day simple moving average is $269.96.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) EPS. Analysts predict that CyberArk Software Ltd. will post -0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CYBR has been the subject of a number of research analyst reports. Scotiabank assumed coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $350.00 price objective (up from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. JMP Securities raised their price objective on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. DA Davidson upped their target price on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Mizuho lifted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software presently has a consensus rating of “Moderate Buy” and an average price target of $328.37.

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.