Farther Finance Advisors LLC Purchases 773 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Farther Finance Advisors LLC grew its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 1,104.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 843 shares of the technology company’s stock after acquiring an additional 773 shares during the period. Farther Finance Advisors LLC’s holdings in CyberArk Software were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CYBR. Van ECK Associates Corp raised its stake in shares of CyberArk Software by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 17,870 shares of the technology company’s stock valued at $5,953,000 after acquiring an additional 1,035 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of CyberArk Software by 3.4% in the fourth quarter. Rhumbline Advisers now owns 15,130 shares of the technology company’s stock valued at $5,041,000 after purchasing an additional 499 shares in the last quarter. Montag A & Associates Inc. increased its holdings in shares of CyberArk Software by 47.2% in the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after purchasing an additional 42 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of CyberArk Software by 6.6% in the fourth quarter. Principal Securities Inc. now owns 1,190 shares of the technology company’s stock valued at $396,000 after purchasing an additional 74 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of CyberArk Software by 86.7% in the fourth quarter. Allworth Financial LP now owns 534 shares of the technology company’s stock valued at $192,000 after purchasing an additional 248 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of CyberArk Software in a report on Tuesday, May 13th. Truist Financial lowered their price target on shares of CyberArk Software from $450.00 to $425.00 and set a “buy” rating for the company in a report on Monday, March 31st. KeyCorp lowered their price target on shares of CyberArk Software from $485.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Rosenblatt Securities reissued a “buy” rating and issued a $445.00 price target on shares of CyberArk Software in a report on Tuesday, May 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $480.00 target price on shares of CyberArk Software in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $416.79.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $390.41 on Wednesday. The firm has a 50-day moving average of $362.75 and a 200-day moving average of $352.87. The stock has a market cap of $19.30 billion, a PE ratio of -209.90 and a beta of 0.99. CyberArk Software Ltd. has a 52-week low of $230.00 and a 52-week high of $421.00.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.19. The company had revenue of $317.60 million during the quarter, compared to analysts’ expectations of $305.57 million. CyberArk Software had a negative net margin of 7.97% and a positive return on equity of 0.71%. CyberArk Software’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. As a group, analysts predict that CyberArk Software Ltd. will post -0.47 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.