Sycomore Asset Management Sells 28,983 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Sycomore Asset Management reduced its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 47.7% in the third quarter, Holdings Channel reports. The firm owned 31,798 shares of the technology company’s stock after selling 28,983 shares during the quarter. CyberArk Software accounts for 1.3% of Sycomore Asset Management’s holdings, making the stock its 25th biggest holding. Sycomore Asset Management’s holdings in CyberArk Software were worth $9,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CYBR. Russell Investments Group Ltd. lifted its holdings in CyberArk Software by 58.3% during the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after purchasing an additional 12,242 shares in the last quarter. Quadrature Capital Ltd bought a new position in CyberArk Software during the first quarter valued at $2,741,000. Price T Rowe Associates Inc. MD increased its position in CyberArk Software by 715.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock valued at $14,946,000 after acquiring an additional 49,360 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in CyberArk Software during the second quarter valued at $711,000. Finally, 1832 Asset Management L.P. boosted its stake in shares of CyberArk Software by 1,291.7% during the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares during the period. 91.84% of the stock is currently owned by institutional investors.

CyberArk Software Stock Performance

Shares of CYBR stock traded up $17.37 during mid-day trading on Thursday, hitting $308.98. 337,899 shares of the stock traded hands, compared to its average volume of 521,598. CyberArk Software Ltd. has a twelve month low of $183.28 and a twelve month high of $318.16. The firm has a market cap of $13.46 billion, a price-to-earnings ratio of -967.16 and a beta of 1.13. The company’s 50-day simple moving average is $283.62 and its 200-day simple moving average is $266.42.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CYBR shares. BTIG Research upped their price objective 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. Robert W. Baird upped their price objective on shares of CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group upped their price objective on CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.