CyberArk Software Ltd. (NASDAQ:CYBR) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 38.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 630 shares of the technology company’s stock after selling 395 shares during the period. Meyer Handelman Co.’s holdings in CyberArk Software were worth $210,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in CyberArk Software in the 3rd quarter valued at about $82,485,000. Anomaly Capital Management LP acquired a new stake in shares of CyberArk Software during the second quarter valued at about $49,145,000. Clearbridge Investments LLC raised its stake in shares of CyberArk Software by 250.0% in the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after acquiring an additional 160,269 shares during the period. Hood River Capital Management LLC lifted its holdings in shares of CyberArk Software by 59.2% in the 2nd quarter. Hood River Capital Management LLC now owns 223,584 shares of the technology company’s stock worth $61,132,000 after acquiring an additional 83,172 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of CyberArk Software by 89.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 167,305 shares of the technology company’s stock worth $45,745,000 after purchasing an additional 78,887 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Stock Performance

CYBR opened at $347.38 on Thursday. CyberArk Software Ltd. has a one year low of $221.12 and a one year high of $349.28. The stock has a market capitalization of $15.14 billion, a P/E ratio of 1,286.64 and a beta of 1.13. The business’s 50-day simple moving average is $321.76 and its 200-day simple moving average is $291.74.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) earnings per share. On average, equities research analysts forecast that CyberArk Software Ltd. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CYBR shares. Wells Fargo & Company boosted their target price on CyberArk Software from $350.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. KeyCorp boosted their price objective on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Truist Financial restated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. BTIG Research boosted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.22.

About CyberArk Software

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.