Portside Wealth Group LLC Raises Stake in CyberArk Software Ltd. (NASDAQ:CYBR)

Portside Wealth Group LLC increased its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 11.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,135 shares of the technology company’s stock after buying an additional 118 shares during the period. Portside Wealth Group LLC’s holdings in CyberArk Software were worth $331,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its position in shares of CyberArk Software by 58.3% during the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after acquiring an additional 12,242 shares during the period. Quadrature Capital Ltd purchased a new stake in CyberArk Software in the first quarter worth $2,741,000. Price T Rowe Associates Inc. MD increased its position in CyberArk Software by 715.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after buying an additional 49,360 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in shares of CyberArk Software in the second quarter valued at $711,000. Finally, 1832 Asset Management L.P. lifted its position in shares of CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after buying an additional 358,602 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $294.61 on Friday. The firm has a market capitalization of $12.84 billion, a PE ratio of -920.66 and a beta of 1.13. CyberArk Software Ltd. has a 52-week low of $181.02 and a 52-week high of $308.63. The firm has a fifty day moving average of $282.76 and a 200 day moving average of $265.34.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The firm had revenue of $224.71 million during the quarter, compared to analysts’ expectations of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.58) EPS. On average, sell-side analysts forecast that CyberArk Software Ltd. will post -1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Scotiabank began coverage on CyberArk Software in a research note on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective on the stock. DA Davidson boosted their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Susquehanna raised their price objective on shares of CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, August 9th. KeyCorp boosted their target price on shares of CyberArk Software from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group raised their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $311.44.

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.