Jackson Square Capital LLC Trims Position in CyberArk Software Ltd. $CYBR

Jackson Square Capital LLC lessened its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,641 shares of the technology company’s stock after selling 1,814 shares during the period. CyberArk Software comprises about 2.5% of Jackson Square Capital LLC’s holdings, making the stock its 8th largest holding. Jackson Square Capital LLC’s holdings in CyberArk Software were worth $11,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Trust Advisors LP lifted its position in CyberArk Software by 9.1% in the second quarter. First Trust Advisors LP now owns 1,129,845 shares of the technology company’s stock valued at $459,711,000 after purchasing an additional 94,318 shares during the last quarter. Norges Bank purchased a new position in shares of CyberArk Software in the second quarter worth $444,613,000. Price T Rowe Associates Inc. MD raised its holdings in CyberArk Software by 1,598.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company’s stock valued at $330,964,000 after buying an additional 921,523 shares during the last quarter. Voya Investment Management LLC boosted its position in CyberArk Software by 0.7% during the 1st quarter. Voya Investment Management LLC now owns 888,898 shares of the technology company’s stock valued at $300,448,000 after buying an additional 6,314 shares during the period. Finally, State Street Corp grew its holdings in CyberArk Software by 1.3% in the 2nd quarter. State Street Corp now owns 817,272 shares of the technology company’s stock worth $332,532,000 after acquiring an additional 10,676 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CYBR has been the subject of a number of analyst reports. Weiss Ratings began coverage on shares of CyberArk Software in a report on Saturday, November 1st. They set a “sell (d-)” rating for the company. Barclays reiterated an “equal weight” rating and issued a $520.00 price target (up previously from $440.00) on shares of CyberArk Software in a report on Tuesday, October 14th. JPMorgan Chase & Co. began coverage on shares of CyberArk Software in a research report on Wednesday. They issued a “neutral” rating and a $474.00 target price for the company. Piper Sandler set a $474.00 target price on CyberArk Software in a report on Wednesday. Finally, Canaccord Genuity Group cut CyberArk Software from a “buy” rating to a “hold” rating and raised their target price for the company from $440.00 to $502.00 in a research note on Wednesday, October 15th. Six equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $462.63.

CyberArk Software Stock Up 0.7%

Shares of NASDAQ:CYBR opened at $451.81 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $481.84 and a two-hundred day simple moving average of $446.58. CyberArk Software Ltd. has a 12-month low of $288.63 and a 12-month high of $526.19. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of -98.01, a PEG ratio of 24.13 and a beta of 0.99.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.28. The firm had revenue of $342.84 million during the quarter, compared to the consensus estimate of $328.52 million. CyberArk Software had a negative return on equity of 0.07% and a negative net margin of 17.42%.The company’s revenue was up 42.8% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. On average, research analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

About CyberArk Software

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.