Truist Financial Corp Sells 7,199 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Truist Financial Corp lessened its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 17.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,393 shares of the technology company’s stock after selling 7,199 shares during the quarter. Truist Financial Corp owned approximately 0.08% of CyberArk Software worth $9,130,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. RGM Capital LLC lifted its holdings in CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the period. Whale Rock Capital Management LLC lifted its stake in shares of CyberArk Software by 21.6% in the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock valued at $122,144,000 after purchasing an additional 81,801 shares during the period. Swedbank AB bought a new position in shares of CyberArk Software in the 1st quarter worth $109,466,000. Acadian Asset Management LLC grew its stake in shares of CyberArk Software by 38.2% during the first quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock worth $107,642,000 after purchasing an additional 112,112 shares during the period. Finally, 1832 Asset Management L.P. grew 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 worth $102,630,000 after purchasing an additional 358,602 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CYBR. Susquehanna raised their target price on CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, August 9th. Royal Bank of Canada assumed coverage on shares of CyberArk Software in a research note on Friday, September 20th. They set an “outperform” rating and a $328.00 price objective on the stock. DA Davidson boosted their price objective on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and issued a $310.00 target price on shares of CyberArk Software in a report on Monday, June 17th. Finally, Citigroup lifted their price target on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $296.92.

CyberArk Software Trading Up 0.5 %

Shares of CYBR stock opened at $280.34 on Friday. The firm’s fifty day moving average price is $272.71 and its two-hundred day moving average price is $259.27. CyberArk Software Ltd. has a 1 year low of $152.03 and a 1 year high of $294.89. The firm has a market capitalization of $11.85 billion, a P/E ratio of -438.03 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The company had revenue of $224.71 million during the quarter, compared to analysts’ expectations of $219.06 million. During the same quarter last year, the company earned ($0.58) EPS. CyberArk Software’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, equities research analysts forecast that CyberArk Software Ltd. will post -1.06 EPS for the current fiscal 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.