D.A. Davidson & CO. Acquires New Position in CyberArk Software Ltd. (NASDAQ:CYBR)

D.A. Davidson & CO. bought a new position in CyberArk Software Ltd. (NASDAQ:CYBR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 676 shares of the technology company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of CyberArk Software by 40.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,363 shares of the technology company’s stock worth $689,000 after buying an additional 681 shares during the period. First Trust Direct Indexing L.P. bought a new position in CyberArk Software during the 3rd quarter worth approximately $383,000. Pinnacle Associates Ltd. increased its stake in CyberArk Software by 6.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,550 shares of the technology company’s stock worth $452,000 after purchasing an additional 100 shares during the period. Diversify Wealth Management LLC lifted its position in CyberArk Software by 11.8% in the third quarter. Diversify Wealth Management LLC now owns 2,230 shares of the technology company’s stock valued at $644,000 after purchasing an additional 236 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its stake in shares of CyberArk Software by 7.0% during the third quarter. Financial Advocates Investment Management now owns 1,404 shares of the technology company’s stock valued at $409,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

CYBR has been the topic of several analyst reports. KeyCorp lifted their target price on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Canaccord Genuity Group boosted their price objective on shares of CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Piper Sandler increased their target price on shares of CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Susquehanna raised their target price on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, DA Davidson reaffirmed a “buy” rating and set a $475.00 price target on shares of CyberArk Software in a research report on Tuesday. Two analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $416.67.

CyberArk Software Stock Performance

CYBR opened at $352.05 on Friday. The company has a fifty day moving average of $359.76 and a two-hundred day moving average of $315.87. The stock has a market capitalization of $15.34 billion, a price-to-earnings ratio of -180.54 and a beta of 1.15. CyberArk Software Ltd. has a fifty-two week low of $223.41 and a fifty-two week high of $421.00.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) 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%. On average, equities research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

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.