Polar Capital Holdings Plc Lowers Stake in CyberArk Software Ltd. (NASDAQ:CYBR)

Polar Capital Holdings Plc decreased its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 30.6% during the fourth quarter, HoldingsChannel reports. The firm owned 602,232 shares of the technology company’s stock after selling 265,903 shares during the period. CyberArk Software makes up approximately 1.1% of Polar Capital Holdings Plc’s holdings, making the stock its 16th biggest holding. Polar Capital Holdings Plc’s holdings in CyberArk Software were worth $200,634,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp purchased a new position in shares of CyberArk Software in the fourth quarter worth about $764,000. China Universal Asset Management Co. Ltd. purchased a new position in CyberArk Software in the 4th quarter worth approximately $1,166,000. Spire Wealth Management lifted its position in CyberArk Software by 236.8% in the fourth quarter. Spire Wealth Management now owns 4,756 shares of the technology company’s stock valued at $1,584,000 after purchasing an additional 3,344 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of CyberArk Software by 9.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 11,576 shares of the technology company’s stock valued at $3,857,000 after purchasing an additional 1,024 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of CyberArk Software by 27.7% in the fourth quarter. Park Avenue Securities LLC now owns 4,092 shares of the technology company’s stock worth $1,363,000 after purchasing an additional 887 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

CYBR has been the subject of a number of analyst reports. Citigroup increased their target price on shares of CyberArk Software from $410.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Morgan Stanley reissued an “equal weight” rating on shares of CyberArk Software in a research note on Tuesday. StockNews.com lowered shares of CyberArk Software from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Roth Capital began coverage on CyberArk Software in a report on Tuesday. They set a “buy” rating and a $415.00 target price on the stock. Finally, DA Davidson increased their target price on CyberArk Software from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Tuesday. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $415.71.

CyberArk Software Price Performance

CYBR opened at $354.76 on Thursday. The stock has a market capitalization of $17.53 billion, a PE ratio of -181.93 and a beta of 0.99. The firm’s fifty day moving average price is $341.83 and its 200 day moving average price is $339.56. CyberArk Software Ltd. has a 12-month low of $223.41 and a 12-month high of $421.00.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 fiscal year.

CyberArk Software 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.