Sumitomo Mitsui Trust Group Inc. Buys 17,673 Shares of CyberArk Software Ltd. $CYBR

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 22.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 96,443 shares of the technology company’s stock after buying an additional 17,673 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CyberArk Software were worth $46,596,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of CyberArk Software during the 2nd quarter worth approximately $30,000. NewSquare Capital LLC grew its stake in shares of CyberArk Software by 78.0% in the second quarter. NewSquare Capital LLC now owns 73 shares of the technology company’s stock valued at $30,000 after buying an additional 32 shares in the last quarter. AlphaCore Capital LLC acquired a new position in CyberArk Software during the second quarter worth $33,000. Promus Capital LLC acquired a new position in CyberArk Software during the second quarter worth $48,000. Finally, GAMMA Investing LLC raised its position in CyberArk Software by 116.1% during the third quarter. GAMMA Investing LLC now owns 121 shares of the technology company’s stock worth $58,000 after acquiring an additional 65 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays reissued an “equal weight” rating and issued a $520.00 price objective (up previously from $440.00) on shares of CyberArk Software in a research report on Tuesday, October 14th. Jefferies Financial Group cut CyberArk Software from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 30th. Citigroup lowered CyberArk Software from a “buy” rating to a “hold” rating and upped their price objective for the company from $465.00 to $524.00 in a research note on Tuesday, November 4th. JMP Securities reiterated a “market perform” rating on shares of CyberArk Software in a research note on Tuesday, September 23rd. Finally, DA Davidson reissued a “buy” rating and set a $518.00 target price on shares of CyberArk Software in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $462.63.

CyberArk Software Price Performance

CyberArk Software stock opened at $453.65 on Friday. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of -98.41, a PEG ratio of 21.46 and a beta of 0.92. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.52. CyberArk Software Ltd. has a 12 month low of $288.63 and a 12 month high of $526.19. The stock’s 50 day moving average is $461.71 and its 200-day moving average is $454.36.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.28. The business had revenue of $342.84 million during the quarter, compared to analysts’ expectations of $328.52 million. CyberArk Software had a negative return on equity of 0.07% and a negative net margin of 17.42%.The firm’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. Equities research analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current year.

CyberArk Software Company Profile

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.