CyberArk Software Ltd. (CYBR) Sees Large Decline in Short Interest
CyberArk Software Ltd. (NASDAQ:CYBR) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 1,152,474 shares, a drop of 23.9% from the August 15th total of 1,514,824 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average trading volume of 510,671 shares, the short-interest ratio is presently 2.3 days.
A number of institutional investors have recently modified their holdings of the business. Cetera Investment Advisers acquired a new position in CyberArk Software during the 2nd quarter valued at approximately $286,000. Wasatch Advisors Inc. boosted its holdings in shares of CyberArk Software by 23.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,359,629 shares of the technology company’s stock valued at $67,913,000 after acquiring an additional 262,189 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of CyberArk Software in the 2nd quarter valued at $345,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CyberArk Software by 15.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,119 shares of the technology company’s stock valued at $455,000 after acquiring an additional 1,201 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of CyberArk Software by 27.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,670 shares of the technology company’s stock valued at $282,000 after acquiring an additional 1,205 shares during the last quarter. Institutional investors and hedge funds own 81.74% of the company’s stock.
CyberArk Software (NASDAQ:CYBR) opened at 41.68 on Friday. The stock has a market cap of $1.23 billion, a PE ratio of 53.50 and a beta of 2.58. The stock’s 50 day moving average is $40.74 and its 200 day moving average is $47.38. CyberArk Software has a 52 week low of $39.34 and a 52 week high of $56.25.
CYBR has been the subject of several analyst reports. BidaskClub raised shares of CyberArk Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of CyberArk Software from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Evercore ISI reissued a “buy” rating and set a $56.00 price target (down previously from $60.00) on shares of CyberArk Software in a research report on Friday, July 14th. J P Morgan Chase & Co downgraded shares of CyberArk Software from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $63.00 to $45.00 in a research report on Friday, July 14th. Finally, ValuEngine downgraded shares of CyberArk Software from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $50.60.
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CyberArk Software Company Profile
CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protects organizations from cyber-attacks. The Company’s software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company’s Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager.
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