Cognyte Software Ltd. $CGNT Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,657 shares of the company’s stock after selling 24,361 shares during the quarter. ARK Investment Management LLC owned about 0.24% of Cognyte Software worth $1,595,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC boosted its holdings in shares of Cognyte Software by 119.2% during the first quarter. Signaturefd LLC now owns 3,968 shares of the company’s stock valued at $31,000 after acquiring an additional 2,158 shares during the period. Magnetar Financial LLC acquired a new stake in Cognyte Software in the first quarter worth about $106,000. Quantbot Technologies LP lifted its holdings in Cognyte Software by 106.5% in the first quarter. Quantbot Technologies LP now owns 16,924 shares of the company’s stock worth $132,000 after purchasing an additional 8,727 shares during the period. Informed Momentum Co LLC acquired a new stake in Cognyte Software in the first quarter worth about $236,000. Finally, Algert Global LLC lifted its holdings in Cognyte Software by 5.0% in the 1st quarter. Algert Global LLC now owns 32,388 shares of the company’s stock valued at $253,000 after acquiring an additional 1,530 shares during the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CGNT has been the subject of a number of research analyst reports. Zacks Research raised shares of Cognyte Software to a “hold” rating in a report on Monday, October 6th. Roth Capital initiated coverage on shares of Cognyte Software in a report on Friday, October 3rd. They issued a “buy” rating and a $14.00 price target for the company. Wall Street Zen downgraded shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, October 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Cognyte Software Trading Up 0.6%

NASDAQ CGNT opened at $8.18 on Thursday. The stock’s 50-day moving average price is $8.50 and its two-hundred day moving average price is $9.21. The company has a market cap of $596.89 million, a PE ratio of -136.31 and a beta of 1.63. Cognyte Software Ltd. has a 1 year low of $6.38 and a 1 year high of $11.65.

Cognyte Software Profile

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.