Jennison Associates LLC Cuts Stake in Cyberark Software Ltd (NASDAQ:CYBR)

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Jennison Associates LLC lowered its position in Cyberark Software Ltd (NASDAQ:CYBR) by 21.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 766,983 shares of the technology company’s stock after selling 205,295 shares during the quarter. Jennison Associates LLC owned approximately 2.03% of Cyberark Software worth $98,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Achmea Investment Management B.V. bought a new position in shares of Cyberark Software during the second quarter valued at approximately $1,365,000. Teacher Retirement System of Texas purchased a new stake in Cyberark Software in the second quarter worth $1,703,000. National Asset Management Inc. grew its stake in Cyberark Software by 64.9% in the second quarter. National Asset Management Inc. now owns 2,771 shares of the technology company’s stock worth $355,000 after purchasing an additional 1,091 shares during the period. CIBC Asset Management Inc purchased a new stake in Cyberark Software in the second quarter worth $242,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Cyberark Software in the second quarter worth $294,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ CYBR traded down $1.99 during trading on Friday, reaching $115.84. The company had a trading volume of 558,199 shares, compared to its average volume of 956,053. Cyberark Software Ltd has a 12-month low of $64.66 and a 12-month high of $148.74. The stock has a market cap of $4.45 billion, a PE ratio of 81.01, a P/E/G ratio of 5.80 and a beta of 1.58. The business’s 50-day moving average is $130.05 and its 200 day moving average is $121.56.

Cyberark Software (NASDAQ:CYBR) last released its earnings results on Wednesday, August 7th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.34. Cyberark Software had a return on equity of 13.47% and a net margin of 15.23%. The firm had revenue of $100.18 million for the quarter, compared to analysts’ expectations of $97.35 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. Research analysts forecast that Cyberark Software Ltd will post 1.29 EPS for the current year.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Cyberark Software from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Tuesday, August 13th. JMP Securities reaffirmed an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of Cyberark Software in a research note on Tuesday, May 14th. Dougherty & Co upped their price target on Cyberark Software from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. set a $160.00 price target on Cyberark Software and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, ValuEngine cut Cyberark Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the company’s stock. Cyberark Software presently has a consensus rating of “Buy” and a consensus target price of $124.52.

About Cyberark Software

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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Institutional Ownership by Quarter for Cyberark Software (NASDAQ:CYBR)

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