Bank of America Corp DE Sells 35,255 Shares of CyberArk Software Ltd. (NASDAQ:CYBR)

Bank of America Corp DE reduced its stake in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,828 shares of the technology company’s stock after selling 35,255 shares during the period. Bank of America Corp DE owned 0.67% of CyberArk Software worth $97,222,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Benjamin Edwards Inc. increased its stake in shares of CyberArk Software by 5.6% in the fourth quarter. Benjamin Edwards Inc. now owns 3,484 shares of the technology company’s stock worth $1,161,000 after purchasing an additional 185 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of CyberArk Software in the fourth quarter worth about $72,842,000. Aptus Capital Advisors LLC bought a new position in shares of CyberArk Software in the fourth quarter worth about $2,480,000. Ardsley Advisory Partners LP bought a new position in shares of CyberArk Software in the fourth quarter worth about $1,999,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of CyberArk Software by 221.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,081 shares of the technology company’s stock worth $1,027,000 after purchasing an additional 2,122 shares during the period. 91.84% of the stock is currently owned by institutional investors.

CyberArk Software Price Performance

CYBR stock opened at $359.04 on Monday. The company has a 50 day moving average price of $340.85 and a 200 day moving average price of $338.76. CyberArk Software Ltd. has a fifty-two week low of $223.41 and a fifty-two week high of $421.00. The stock has a market capitalization of $17.75 billion, a PE ratio of -184.12 and a beta of 0.99.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, equities analysts expect that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CYBR. Canaccord Genuity Group boosted their price target on CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of CyberArk Software in a research note on Thursday, April 24th. Scotiabank boosted their price target on CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Roth Capital began coverage on CyberArk Software in a research note on Wednesday, April 23rd. They set a “buy” rating and a $415.00 price target on the stock. Finally, Truist Financial lowered their price target on CyberArk Software from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $415.18.

About CyberArk Software

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.