Envestnet Portfolio Solutions Inc. Has $1.04 Million Stake in CyberArk Software Ltd. (NASDAQ:CYBR)

Envestnet Portfolio Solutions Inc. reduced its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,078 shares of the technology company’s stock after selling 196 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CyberArk Software were worth $1,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Thoma Bravo L.P. bought a new position in shares of CyberArk Software in the 4th quarter valued at about $380,637,000. First Trust Advisors LP boosted its position in CyberArk Software by 2.3% during the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock valued at $313,084,000 after purchasing an additional 20,832 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in CyberArk Software by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after purchasing an additional 68,359 shares in the last quarter. Norges Bank bought a new position in CyberArk Software in the fourth quarter valued at approximately $203,375,000. Finally, Driehaus Capital Management LLC increased its position in shares of CyberArk Software by 31.5% during the 4th quarter. Driehaus Capital Management LLC now owns 478,096 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 114,622 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 several recent analyst reports. Citigroup increased their price objective on CyberArk Software from $410.00 to $450.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Morgan Stanley reaffirmed an “equal weight” rating on shares of CyberArk Software in a research report on Tuesday, May 13th. Guggenheim reissued a “buy” rating and issued a $455.00 price objective on shares of CyberArk Software in a research report on Tuesday, February 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of CyberArk Software in a report on Tuesday, May 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $445.00 target price on shares of CyberArk Software in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $416.79.

CyberArk Software Stock Performance

NASDAQ:CYBR opened at $397.13 on Wednesday. CyberArk Software Ltd. has a fifty-two week low of $230.00 and a fifty-two week high of $421.00. The firm has a market cap of $19.63 billion, a PE ratio of -213.51 and a beta of 0.99. The business has a 50 day moving average price of $366.99 and a 200-day moving average price of $355.14.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Tuesday, May 13th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.79 by $0.19. The business had revenue of $317.60 million during the quarter, compared to analyst estimates of $305.57 million. CyberArk Software had a negative net margin of 7.97% and a positive return on equity of 0.71%. The company’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Research analysts predict that CyberArk Software Ltd. will post -0.47 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.