Wellington Management Group LLP Sells 512,567 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Wellington Management Group LLP decreased its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,150,278 shares of the technology company’s stock after selling 512,567 shares during the period. Wellington Management Group LLP owned approximately 2.33% of CyberArk Software worth $383,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in CyberArk Software in the 4th quarter worth about $25,000. TD Private Client Wealth LLC raised its position in shares of CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after buying an additional 34 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of CyberArk Software in the fourth quarter valued at approximately $39,000. Graney & King LLC acquired a new stake in CyberArk Software during the fourth quarter worth approximately $43,000. Finally, Montag A & Associates Inc. increased its stake in CyberArk Software by 47.2% during the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Ratings Changes

CYBR has been the topic of several analyst reports. Stifel Nicolaus increased their target price on CyberArk Software from $370.00 to $444.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Royal Bank of Canada raised their target price on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Oppenheimer boosted their target price on shares of CyberArk Software from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. DA Davidson reiterated a “buy” rating and set a $475.00 price target on shares of CyberArk Software in a research report on Tuesday, February 25th. Finally, Piper Sandler boosted their price objective on shares of CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $418.04.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $348.26 on Wednesday. The company’s 50 day moving average price is $363.73 and its 200-day moving average price is $327.66. CyberArk Software Ltd. has a 52-week low of $223.41 and a 52-week high of $421.00. The company has a market capitalization of $17.21 billion, a P/E ratio of -178.59 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. Analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current 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.