Readystate Asset Management LP Makes New Investment in CyberArk Software Ltd. $CYBR

Readystate Asset Management LP acquired a new position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 112,775 shares of the technology company’s stock, valued at approximately $54,487,000. CyberArk Software makes up approximately 2.3% of Readystate Asset Management LP’s investment portfolio, making the stock its 7th largest position. Readystate Asset Management LP owned about 0.22% of CyberArk Software as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CYBR. AQR Capital Management LLC acquired a new stake in CyberArk Software during the 1st quarter valued at $284,000. Concurrent Investment Advisors LLC acquired a new stake in shares of CyberArk Software during the second quarter valued at $207,000. CWM LLC increased its position in CyberArk Software by 74.3% during the 2nd quarter. CWM LLC now owns 387 shares of the technology company’s stock worth $157,000 after purchasing an additional 165 shares in the last quarter. Harbour Investments Inc. raised its stake in CyberArk Software by 22.2% in the 2nd quarter. Harbour Investments Inc. now owns 248 shares of the technology company’s stock valued at $101,000 after purchasing an additional 45 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in CyberArk Software in the 2nd quarter valued at about $202,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CYBR has been the subject of a number of analyst reports. DA Davidson boosted their price objective on shares of CyberArk Software from $518.00 to $573.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Barclays cut their price target on CyberArk Software from $520.00 to $460.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Jefferies Financial Group downgraded CyberArk Software from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 30th. Piper Sandler set a $474.00 target price on CyberArk Software in a research note on Wednesday, December 17th. Finally, Mizuho decreased their price target on CyberArk Software from $520.00 to $470.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CyberArk Software currently has an average rating of “Hold” and a consensus target price of $459.95.

CyberArk Software Stock Down 0.1%

Shares of NASDAQ CYBR opened at $408.85 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.14 and a current ratio of 2.00. CyberArk Software Ltd. has a 1 year low of $288.63 and a 1 year high of $526.19. The stock’s 50-day simple moving average is $439.83 and its 200-day simple moving average is $460.32. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of -139.54, a PEG ratio of 18.11 and a beta of 0.91.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.18. CyberArk Software had a positive return on equity of 0.77% and a negative net margin of 10.79%.The firm had revenue of $372.65 million during the quarter, compared to analyst estimates of $377.22 million. During the same quarter last year, the firm earned $0.80 EPS. CyberArk Software’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, equities analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

About CyberArk Software

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.