Raymond James & Associates Boosts Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Raymond James & Associates increased its stake in CyberArk Software Ltd. (NASDAQ:CYBR – Get Rating) by 145.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,113 shares of the technology company’s stock after buying an additional 22,604 shares during the period. Raymond James & Associates owned 0.09% of CyberArk Software worth $4,941,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ellevest Inc. increased its stake in CyberArk Software by 480.0% in the 3rd quarter. Ellevest Inc. now owns 174 shares of the technology company’s stock worth $26,000 after buying an additional 144 shares during the period. Pacer Advisors Inc. increased its stake in CyberArk Software by 1,089.3% in the 4th quarter. Pacer Advisors Inc. now owns 333 shares of the technology company’s stock worth $43,000 after buying an additional 305 shares during the period. Covestor Ltd purchased a new position in CyberArk Software in the 1st quarter worth about $73,000. Armstrong Advisory Group Inc. purchased a new position in CyberArk Software in the 4th quarter worth about $91,000. Finally, Belpointe Asset Management LLC purchased a new position in CyberArk Software in the 4th quarter worth about $103,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $152.55 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.84. The company has a 50 day simple moving average of $137.51 and a two-hundred day simple moving average of $139.19. CyberArk Software Ltd. has a 12 month low of $113.19 and a 12 month high of $165.18. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of -48.89 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CYBR shares. DA Davidson raised their target price on shares of CyberArk Software from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 10th. JPMorgan Chase & Co. started coverage on shares of CyberArk Software in a research report on Tuesday, January 24th. They set a “neutral” rating and a $147.00 target price on the stock. Rosenblatt Securities initiated coverage on shares of CyberArk Software in a research report on Monday, May 1st. They set a “buy” rating and a $175.00 target price on the stock. Mizuho reaffirmed a “buy” rating and issued a $175.00 price objective on shares of CyberArk Software in a research report on Friday, February 10th. Finally, Citigroup lifted their price objective on shares of CyberArk Software from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and an average price target of $174.00.

About CyberArk Software

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CyberArk Software Ltd. engages in the development, market, and sale of access security software solutions. The firm’s products include Privilege, Access, and DevSecOps. It offers its products and services to banking, insurance, healthcare, and federal industries. The company was founded by Udi Mokady and Alon Cohen in 1999 and is headquartered in Petah Tikva, Israel.