Short Interest in CyberArk Software Ltd. (NASDAQ:CYBR) Drops By 22.8%

CyberArk Software Ltd. (NASDAQ:CYBR) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,390,000 shares, a decline of 22.8% from the October 15th total of 1,800,000 shares. Based on an average trading volume of 423,000 shares, the short-interest ratio is presently 3.3 days. Approximately 3.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently modified their holdings of CYBR. Oppenheimer & Co. Inc. boosted its holdings in CyberArk Software by 28.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock valued at $450,000 after purchasing an additional 371 shares during the period. Russell Investments Group Ltd. raised its position in shares of CyberArk Software by 58.3% in the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock worth $8,830,000 after buying an additional 12,242 shares in the last quarter. US Bancorp DE boosted its stake in CyberArk Software by 3.6% during the first quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock valued at $2,715,000 after buying an additional 353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in CyberArk Software by 17.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,573 shares of the technology company’s stock valued at $5,996,000 after buying an additional 3,349 shares during the period. Finally, Blair William & Co. IL grew its position in CyberArk Software by 15.2% during the first quarter. Blair William & Co. IL now owns 14,515 shares of the technology company’s stock worth $3,856,000 after buying an additional 1,919 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

CyberArk Software Price Performance

Shares of CYBR stock opened at $301.28 on Friday. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of -967.16 and a beta of 1.13. The company’s fifty day simple moving average is $283.62 and its two-hundred day simple moving average is $266.42. CyberArk Software has a 1 year low of $183.28 and a 1 year high of $318.16.

Analyst Ratings Changes

CYBR has been the subject of several analyst reports. Piper Sandler raised their price target on shares of CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity Group lifted their target price on CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho increased their price target on CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer lifted their price objective on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their target price on shares of CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

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.