Pier 88 Investment Partners LLC Has $4.82 Million Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Pier 88 Investment Partners LLC lessened its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 25.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,460 shares of the technology company's stock after selling 5,000 shares during the quarter. CyberArk Software comprises about 0.9% of Pier 88 Investment Partners LLC's investment portfolio, making the stock its 25th biggest holding. Pier 88 Investment Partners LLC's holdings in CyberArk Software were worth $4,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CYBR. Norges Bank acquired a new position in CyberArk Software during the fourth quarter worth about $203,375,000. Nepsis Inc. lifted its stake in CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company's stock valued at $187,339,000 after purchasing an additional 505,088 shares during the last quarter. Jennison Associates LLC grew its position in CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company's stock worth $534,287,000 after buying an additional 391,900 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of CyberArk Software by 195.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company's stock valued at $170,614,000 after purchasing an additional 336,462 shares during the period. Finally, Swedbank AB raised its position in CyberArk Software by 19.0% during the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company's stock valued at $181,600,000 after buying an additional 87,201 shares during the period. Institutional investors own 91.84% of the company's stock.

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CyberArk Software Price Performance

CYBR traded down $13.66 during trading on Friday, reaching $314.30. The company had a trading volume of 330,519 shares, compared to its average volume of 509,923. The company has a market cap of $15.53 billion, a P/E ratio of -160.55 and a beta of 1.06. CyberArk Software Ltd. has a 12 month low of $223.41 and a 12 month high of $421.00. The business's fifty day moving average price is $362.85 and its 200 day moving average price is $327.79.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, sell-side analysts predict that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CYBR shares. Oppenheimer upped their price target on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Piper Sandler raised their price target on shares of CyberArk Software from $380.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of CyberArk Software from $385.00 to $410.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 21st. Guggenheim reaffirmed a "buy" rating and issued a $455.00 price target on shares of CyberArk Software in a research report on Tuesday, February 25th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $445.00 price target on shares of CyberArk Software in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CyberArk Software has an average rating of "Moderate Buy" and a consensus target price of $418.04.

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.