KLP Kapitalforvaltning AS Has $6.41 Million Stake in CyberArk Software Ltd. $CYBR

KLP Kapitalforvaltning AS raised its stake in CyberArk Software Ltd. (NASDAQ:CYBR) by 1.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,750 shares of the technology company’s stock after buying an additional 300 shares during the period. KLP Kapitalforvaltning AS’s holdings in CyberArk Software were worth $6,408,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of CyberArk Software in the 2nd quarter valued at approximately $30,000. Golden State Wealth Management LLC raised its holdings in CyberArk Software by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company’s stock worth $26,000 after purchasing an additional 39 shares during the period. Bessemer Group Inc. raised its holdings in CyberArk Software by 421.1% in the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company’s stock worth $33,000 after purchasing an additional 80 shares during the period. Morse Asset Management Inc acquired a new stake in CyberArk Software in the first quarter worth $34,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in CyberArk Software by 340.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 110 shares of the technology company’s stock worth $37,000 after purchasing an additional 85 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Stock Down 2.9%

Shares of CyberArk Software stock opened at $493.52 on Friday. The business’s 50 day simple moving average is $458.28 and its 200 day simple moving average is $400.26. CyberArk Software Ltd. has a 52-week low of $271.68 and a 52-week high of $514.28. The firm has a market cap of $24.91 billion, a PE ratio of -146.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.31 and a current ratio of 2.31.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The company had revenue of $328.03 million for the quarter, compared to the consensus estimate of $315.43 million. During the same period last year, the company earned $0.54 earnings per share. The firm’s revenue was up 46.0% compared to the same quarter last year. On average, analysts predict that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CYBR has been the topic of several research analyst reports. Citizens Jmp downgraded CyberArk Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Barclays raised their price objective on CyberArk Software from $405.00 to $440.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Scotiabank reaffirmed a “sector perform” rating and set a $448.00 price target (down previously from $460.00) on shares of CyberArk Software in a research report on Tuesday, August 5th. KeyCorp lowered CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Piper Sandler restated a “neutral” rating and set a $448.00 target price (up from $440.00) on shares of CyberArk Software in a report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $443.38.

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.