Dai ichi Life Insurance Company Ltd Decreases Stock Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Dai ichi Life Insurance Company Ltd reduced its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 2.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,762 shares of the technology company’s stock after selling 100 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in CyberArk Software were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CYBR. Norges Bank purchased a new position in shares of CyberArk Software in the fourth quarter valued at $100,797,000. Swedbank AB bought a new stake in CyberArk Software during the first quarter valued at $109,466,000. 1832 Asset Management L.P. boosted its stake in 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 valued at $102,630,000 after buying an additional 358,602 shares during the period. Global Assets Advisory LLC bought a new stake in CyberArk Software during the first quarter valued at $67,736,000. Finally, Contour Asset Management LLC bought a new stake in CyberArk Software during the fourth quarter valued at $48,605,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Price Performance

NASDAQ CYBR opened at $273.40 on Tuesday. The business’s fifty day moving average price is $268.72 and its 200-day moving average price is $257.42. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of -427.19 and a beta of 1.11. CyberArk Software Ltd. has a 1-year low of $152.03 and a 1-year high of $293.31.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.14. The firm had revenue of $224.71 million for 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 was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.58) EPS. Equities research analysts anticipate that CyberArk Software Ltd. will post -1.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CYBR shares. KeyCorp lifted their price objective on CyberArk Software from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research note on Friday, August 9th. Wedbush lifted 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. Guggenheim reaffirmed a “buy” rating and set a $300.00 price target on shares of CyberArk Software in a research note on Tuesday, June 25th. Finally, 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. Two investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.