Van ECK Associates Corp Increases Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Van ECK Associates Corp boosted its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,574 shares of the technology company’s stock after purchasing an additional 2,289 shares during the period. Van ECK Associates Corp’s holdings in CyberArk Software were worth $4,532,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CYBR. Norges Bank acquired a new stake in shares of CyberArk Software in the fourth quarter valued at about $100,797,000. Whale Rock Capital Management LLC boosted its holdings in CyberArk Software by 21.6% in the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock worth $122,144,000 after acquiring an additional 81,801 shares during the period. Swedbank AB acquired a new stake in CyberArk Software in the first quarter valued at approximately $109,466,000. Acadian Asset Management LLC raised its stake in shares of CyberArk Software by 38.2% during the first quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock valued at $107,642,000 after purchasing an additional 112,112 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of CyberArk Software by 1,291.7% during the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after purchasing an additional 358,602 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Stock Performance

Shares of CYBR opened at $280.11 on Wednesday. The firm has a fifty day moving average of $269.14 and a 200-day moving average of $256.63. The company has a market cap of $11.84 billion, a price-to-earnings ratio of -437.67 and a beta of 1.14. CyberArk Software Ltd. has a 1 year low of $152.03 and a 1 year high of $293.31.

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

Analysts Set New Price Targets

CYBR has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of CyberArk Software in a research note on Friday, August 9th. Wedbush boosted their price target on CyberArk Software from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. DA Davidson raised their price objective on CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Guggenheim reaffirmed a “buy” rating and issued a $300.00 target price on shares of CyberArk Software in a research report on Tuesday, June 25th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.