Pier 88 Investment Partners LLC Grows Holdings in CyberArk Software Ltd. (NASDAQ:CYBR)

Pier 88 Investment Partners LLC raised its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 26.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,460 shares of the technology company’s stock after purchasing an additional 4,120 shares during the period. CyberArk Software accounts for 1.3% of Pier 88 Investment Partners LLC’s holdings, making the stock its 21st biggest position. Pier 88 Investment Partners LLC’s holdings in CyberArk Software were worth $5,675,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB bought a new stake in shares of CyberArk Software in the first quarter valued at $109,466,000. 1832 Asset Management L.P. raised its stake in CyberArk Software by 1,291.7% in 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 acquiring an additional 358,602 shares during the period. International Assets Investment Management LLC bought a new position in CyberArk Software during the third quarter worth about $82,485,000. Anomaly Capital Management LP bought a new position in CyberArk Software during the second quarter worth about $49,145,000. Finally, Clearbridge Investments LLC increased its stake in shares of CyberArk Software by 250.0% in the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after purchasing an additional 160,269 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Down 3.0 %

Shares of CYBR stock opened at $291.61 on Thursday. The stock has a fifty day moving average of $283.33 and a 200 day moving average of $266.24. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of -911.28 and a beta of 1.13. CyberArk Software Ltd. has a 52 week low of $183.28 and a 52 week high of $318.16.

Wall Street Analyst Weigh In

Several research analysts recently commented on CYBR shares. Citigroup raised 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. Susquehanna raised their price target on CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, August 9th. Scotiabank began coverage on CyberArk Software in a research report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price target for the company. Barclays increased their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Wedbush lifted their target price on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $311.44.

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.