CyberArk Software Ltd. (NASDAQ:CYBR) Stake Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,351 shares of the technology company’s stock after selling 9,191 shares during the quarter. Principal Financial Group Inc. owned approximately 0.26% of CyberArk Software worth $32,471,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Jackson Square Capital LLC lifted its holdings in CyberArk Software by 28.6% in the third quarter. Jackson Square Capital LLC now owns 23,895 shares of the technology company’s stock worth $6,968,000 after purchasing an additional 5,308 shares during the period. M&G PLC purchased a new stake in shares of CyberArk Software during the third quarter valued at $10,278,000. Austin Private Wealth LLC lifted its stake 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 buying an additional 52 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of CyberArk Software by 47.6% during the third quarter. Crestwood Advisors Group LLC now owns 1,550 shares of the technology company’s stock valued at $452,000 after acquiring an additional 500 shares during the period. Finally, Rational Advisors LLC raised its stake in CyberArk Software by 45.5% during the 3rd quarter. Rational Advisors LLC now owns 12,800 shares of the technology company’s stock valued at $3,733,000 after purchasing an additional 4,000 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CYBR. Cantor Fitzgerald increased their price objective on CyberArk Software from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. DA Davidson upped their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and set a $310.00 target price on shares of CyberArk Software in a research note on Monday, November 4th. Susquehanna increased their target price on shares of CyberArk Software from $310.00 to $320.00 and gave the company a “positive” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $311.44.

CyberArk Software Stock Down 0.0 %

NASDAQ CYBR opened at $294.56 on Tuesday. The company’s 50 day moving average is $282.76 and its 200-day moving average is $265.48. CyberArk Software Ltd. has a 12-month low of $181.11 and a 12-month high of $308.63. The firm has a market cap of $12.83 billion, a P/E ratio of -920.50 and a beta of 1.13.

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.