abrdn plc Sells 99,457 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

abrdn plc reduced its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 32.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,342 shares of the technology company’s stock after selling 99,457 shares during the quarter. abrdn plc’s holdings in CyberArk Software were worth $46,075,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS grew its position in shares of CyberArk Software by 193.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 45,500 shares of the technology company’s stock worth $9,967,000 after buying an additional 30,000 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of CyberArk Software by 21.3% during the fourth quarter. Federated Hermes Inc. now owns 65,984 shares of the technology company’s stock valued at $14,454,000 after purchasing an additional 11,583 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its position in shares of CyberArk Software by 22.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock valued at $62,000 after purchasing an additional 51 shares in the last quarter. Wealth Alliance boosted its position in shares of CyberArk Software by 2.6% during the fourth quarter. Wealth Alliance now owns 2,399 shares of the technology company’s stock valued at $526,000 after purchasing an additional 60 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of CyberArk Software by 3.1% during the fourth quarter. Mackenzie Financial Corp now owns 2,952 shares of the technology company’s stock valued at $647,000 after purchasing an additional 90 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CYBR. UBS Group lifted their price target on CyberArk Software from $215.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. KeyCorp lifted their price target on CyberArk Software from $274.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their price target on CyberArk Software from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. BTIG Research began coverage on CyberArk Software in a research note on Thursday, March 28th. They set a “buy” rating and a $317.00 price objective for the company. Finally, Citigroup lifted their price objective on CyberArk Software from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.54.

CyberArk Software Stock Performance

CYBR stock opened at $233.71 on Monday. CyberArk Software Ltd. has a 1-year low of $120.11 and a 1-year high of $283.00. The business has a fifty day moving average price of $258.35 and a 200-day moving average price of $221.52.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.53. The company had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $209.65 million. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. On average, equities analysts predict that CyberArk Software Ltd. will post -1.46 EPS for the current fiscal year.

CyberArk Software Profile

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.