Jennison Associates LLC Increases Stock Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Jennison Associates LLC increased its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,211,844 shares of the technology company’s stock after buying an additional 9,570 shares during the quarter. Jennison Associates LLC owned 2.78% of CyberArk Software worth $353,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. RGM Capital LLC grew its stake in CyberArk Software by 2.1% during the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after buying an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC grew its stake in CyberArk Software by 21.6% during the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock worth $122,144,000 after buying an additional 81,801 shares during the last quarter. Swedbank AB grew its stake in CyberArk Software by 11.1% during the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after purchasing an additional 45,799 shares during the last quarter. 1832 Asset Management L.P. grew its stake in CyberArk Software by 1,291.7% during the 1st 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 last quarter. Finally, International Assets Investment Management LLC purchased a new stake in CyberArk Software during the 3rd quarter valued at about $82,485,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wedbush boosted their price target on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company boosted their price target on CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JMP Securities boosted their price target on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $335.00 price target on shares of CyberArk Software in a research note on Thursday, November 14th. Finally, Truist Financial reiterated a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $315.00 on Wednesday. The business has a 50 day simple moving average of $285.98 and a two-hundred day simple moving average of $268.00. CyberArk Software Ltd. has a 12 month low of $186.96 and a 12 month high of $318.16. The stock has a market capitalization of $13.72 billion, a P/E ratio of 1,166.71 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter last year, the firm earned ($0.31) earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, research analysts anticipate that CyberArk Software Ltd. will post -0.99 EPS for the current fiscal year.

CyberArk Software Company 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.