Freedom Investment Management Inc. Cuts Stock Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Freedom Investment Management Inc. cut its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 12.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,949 shares of the technology company’s stock after selling 282 shares during the period. Freedom Investment Management Inc.’s holdings in CyberArk Software were worth $649,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after purchasing an additional 391,900 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of CyberArk Software by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after acquiring an additional 68,359 shares in the last quarter. Norges Bank purchased a new stake in shares of CyberArk Software during the fourth quarter valued at approximately $203,375,000. Nepsis Inc. lifted its holdings in CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after acquiring an additional 505,088 shares during the period. Finally, TimesSquare Capital Management LLC boosted its position in CyberArk Software by 4.6% in the fourth quarter. TimesSquare Capital Management LLC now owns 560,353 shares of the technology company’s stock worth $186,682,000 after purchasing an additional 24,805 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CYBR. JMP Securities lifted their target price on CyberArk Software from $390.00 to $480.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Scotiabank boosted their target price on shares of CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Guggenheim reaffirmed a “buy” rating and issued a $455.00 price target on shares of CyberArk Software in a report on Tuesday, February 25th. Canaccord Genuity Group increased their price objective on CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company boosted their target price on CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average target price of $412.14.

CyberArk Software Price Performance

CYBR stock opened at $325.84 on Friday. The firm has a 50 day simple moving average of $351.30 and a two-hundred day simple moving average of $332.38. The stock has a market cap of $16.11 billion, a PE ratio of -167.10 and a beta of 1.00. CyberArk Software Ltd. has a one year low of $223.41 and a one year high of $421.00.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, research analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

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.