Citigroup Inc. Sells 607,770 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Citigroup Inc. cut its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 72.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,857 shares of the technology company’s stock after selling 607,770 shares during the quarter. Citigroup Inc. owned approximately 0.54% of CyberArk Software worth $68,778,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of CyberArk Software during the second quarter worth approximately $27,000. ORG Partners LLC bought a new position in shares of CyberArk Software in the second quarter valued at $33,000. 1620 Investment Advisors Inc. acquired a new position in shares of CyberArk Software during the second quarter valued at about $39,000. Assetmark Inc. increased its position in shares of CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after acquiring an additional 123 shares in the last quarter. Finally, Arcadia Investment Management Corp MI raised its holdings in shares of CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after acquiring an additional 54 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CYBR has been the subject of a number of analyst reports. Wedbush lifted 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. BTIG Research increased their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $335.00 target price on shares of CyberArk Software in a report on Thursday, November 14th. Finally, Susquehanna boosted their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Trading Down 2.9 %

CyberArk Software stock opened at $319.73 on Friday. The firm has a 50 day simple moving average of $290.18 and a 200 day simple moving average of $269.96. CyberArk Software Ltd. has a 1-year low of $191.25 and a 1-year high of $332.05. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 1,184.23 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) earnings per share. On average, equities research analysts forecast that CyberArk Software Ltd. will post -0.62 EPS for the current 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.