Citigroup Inc. Sells 607,770 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Citigroup Inc. lessened its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 72.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,857 shares of the technology company's stock after selling 607,770 shares during the period. Citigroup Inc. owned approximately 0.54% of CyberArk Software worth $68,778,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in CyberArk Software by 715.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company's stock worth $14,946,000 after acquiring an additional 49,360 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in shares of CyberArk Software in the 2nd quarter worth $711,000. Sycomore Asset Management raised its stake in shares of CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company's stock worth $15,973,000 after purchasing an additional 16,294 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of CyberArk Software by 11.1% during the first quarter. California State Teachers Retirement System now owns 37,875 shares of the technology company's stock valued at $10,061,000 after purchasing an additional 3,782 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of CyberArk Software by 527.2% during the first quarter. Cetera Investment Advisers now owns 11,452 shares of the technology company's stock valued at $3,042,000 after buying an additional 9,626 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CYBR. Citigroup upped their target price on shares of CyberArk Software from $305.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Truist Financial restated a "buy" rating and issued a $350.00 target price (up previously from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. Stifel Nicolaus boosted their target price on shares of CyberArk Software from $306.00 to $335.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Mizuho raised their price target on CyberArk Software from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, Oppenheimer upped their price objective on CyberArk Software from $310.00 to $360.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $328.37.

CyberArk Software Trading Down 2.9 %

CYBR traded down $9.42 during trading on Friday, hitting $319.73. 358,173 shares of the company traded hands, compared to its average volume of 567,025. The company has a market cap of $13.93 billion, a PE ratio of 1,184.23 and a beta of 1.13. The stock's 50-day simple moving average is $290.18 and its two-hundred day simple moving average is $270.19. CyberArk Software Ltd. has a 1 year low of $191.25 and a 1 year high of $332.05.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analysts' expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business's revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.31) earnings per share. Equities analysts expect that CyberArk Software Ltd. will post -0.62 EPS for the current year.

CyberArk Software Company 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.