Spire Wealth Management Invests $328,000 in CyberArk Software Ltd. (NASDAQ:CYBR)

Spire Wealth Management bought a new position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,199 shares of the technology company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CYBR. Atria Wealth Solutions Inc. purchased a new position in CyberArk Software in the fourth quarter valued at approximately $246,000. Russell Investments Group Ltd. boosted its holdings in shares of CyberArk Software by 8.3% in the 4th quarter. Russell Investments Group Ltd. now owns 21,013 shares of the technology company’s stock valued at $4,603,000 after buying an additional 1,619 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of CyberArk Software by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 185,020 shares of the technology company’s stock valued at $40,529,000 after buying an additional 2,726 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of CyberArk Software by 7.1% in the 4th quarter. Natixis Advisors L.P. now owns 74,750 shares of the technology company’s stock valued at $16,373,000 after buying an additional 4,953 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in CyberArk Software in the fourth quarter valued at $290,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Trading Up 0.1 %

NASDAQ CYBR opened at $286.74 on Tuesday. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of -448.03 and a beta of 1.14. The business’s 50 day moving average is $268.79 and its two-hundred day moving average is $256.49. CyberArk Software Ltd. has a 12-month low of $152.03 and a 12-month high of $293.31.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The firm had revenue of $224.71 million for the quarter, compared to the consensus estimate of $219.06 million. During the same period in the previous year, the business earned ($0.58) earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts forecast that CyberArk Software Ltd. will post -1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CYBR. Needham & Company LLC reaffirmed a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a report on Friday, August 9th. Rosenblatt Securities restated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research note on Tuesday, August 6th. Canaccord Genuity Group reduced their price objective on CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Citigroup raised their target price on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.83.

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.