Peregrine Capital Management LLC Cuts Stock Holdings in CyberArk Software Ltd. $CYBR

Peregrine Capital Management LLC lowered its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 38.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,772 shares of the technology company’s stock after selling 14,960 shares during the period. Peregrine Capital Management LLC’s holdings in CyberArk Software were worth $11,485,000 at the end of the most recent reporting period.

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

CyberArk Software Trading Down 1.5%

Shares of CyberArk Software stock opened at $460.93 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.14 and a quick ratio of 2.14. CyberArk Software Ltd. has a 1 year low of $288.63 and a 1 year high of $526.19. The firm has a market cap of $23.27 billion, a PE ratio of -99.98, a PEG ratio of 21.74 and a beta of 0.92. The company has a 50 day simple moving average of $467.04 and a two-hundred day simple moving average of $452.31.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citizens Jmp lowered CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. JMP Securities reiterated a “market perform” rating on shares of CyberArk Software in a research note on Tuesday, September 23rd. Piper Sandler set a $474.00 price objective on CyberArk Software in a research note on Wednesday, December 17th. Jefferies Financial Group downgraded CyberArk Software from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 30th. Finally, Citigroup cut CyberArk Software from a “buy” rating to a “hold” rating and upped their price target for the company from $465.00 to $524.00 in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CyberArk Software presently has a consensus rating of “Hold” and an average price target of $462.63.

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.