Bornite Capital Management LP Invests $24.41 Million in CyberArk Software Ltd. $CYBR

Bornite Capital Management LP purchased a new stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 60,000 shares of the technology company’s stock, valued at approximately $24,413,000. CyberArk Software makes up about 2.4% of Bornite Capital Management LP’s portfolio, making the stock its 26th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Future Fund LLC bought a new position in CyberArk Software during the second quarter valued at approximately $1,078,000. Pier 88 Investment Partners LLC grew its position in CyberArk Software by 42.1% in the second quarter. Pier 88 Investment Partners LLC now owns 18,330 shares of the technology company’s stock worth $7,458,000 after acquiring an additional 5,430 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CyberArk Software by 10.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,468 shares of the technology company’s stock worth $16,466,000 after purchasing an additional 3,666 shares during the last quarter. AGF Management Ltd. bought a new position in shares of CyberArk Software during the 2nd quarter valued at $227,000. Finally, Metis Global Partners LLC raised its holdings in shares of CyberArk Software by 5.4% during the 2nd quarter. Metis Global Partners LLC now owns 844 shares of the technology company’s stock valued at $343,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $503.87 on Friday. CyberArk Software Ltd. has a 12 month low of $288.00 and a 12 month high of $526.19. The company has a market cap of $25.43 billion, a P/E ratio of -149.52 and a beta of 1.01. The business’s 50 day moving average is $490.51 and its two-hundred day moving average is $425.47. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data 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. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.The company had revenue of $342.84 million during the quarter, compared to analysts’ expectations of $328.52 million. During the same period in the prior year, the business earned $0.94 earnings per share. CyberArk Software’s revenue for the quarter was up 42.8% compared to the same quarter last year. On average, equities analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

CYBR has been the topic of several analyst reports. JMP Securities reissued a “market perform” rating on shares of CyberArk Software in a research report on Tuesday, September 23rd. Citigroup lowered CyberArk Software from a “buy” rating to a “hold” rating and increased their price objective for the company from $465.00 to $524.00 in a report on Tuesday, November 4th. Needham & Company LLC raised their price objective on CyberArk Software from $460.00 to $551.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $420.00 target price on shares of CyberArk Software in a report on Tuesday, July 22nd. Finally, Citizens Jmp cut CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Nine analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $451.69.

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.