Spyglass Capital Management LLC Purchases Shares of 116,221 CyberArk Software Ltd. (NASDAQ:CYBR)

Spyglass Capital Management LLC acquired a new position in shares of CyberArk Software Ltd. (NASDAQ:CYBR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 116,221 shares of the technology company’s stock, valued at approximately $38,719,000. CyberArk Software makes up about 2.2% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Spyglass Capital Management LLC owned approximately 0.27% of CyberArk Software as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in CyberArk Software during the 4th quarter valued at about $25,000. TD Private Client Wealth LLC raised its stake in shares of CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after acquiring an additional 34 shares during the last quarter. Plato Investment Management Ltd bought a new position in CyberArk Software in the 4th quarter worth approximately $39,000. Graney & King LLC bought a new position in CyberArk Software in the 4th quarter valued at $43,000. Finally, Montag A & Associates Inc. raised its position in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CYBR. Truist Financial dropped their price objective on CyberArk Software from $450.00 to $425.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup boosted their price target on shares of CyberArk Software from $410.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Stifel Nicolaus increased their price objective on shares of CyberArk Software from $370.00 to $444.00 and gave the company a “buy” rating in a report on Friday, February 14th. Oppenheimer lifted their target price on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group increased 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. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus price target of $415.71.

CyberArk Software Stock Performance

CyberArk Software stock opened at $355.00 on Monday. The stock has a 50-day simple moving average of $343.15 and a 200 day simple moving average of $341.35. The stock has a market capitalization of $17.55 billion, a P/E ratio of -182.05 and a beta of 0.99. CyberArk Software Ltd. has a 52 week low of $223.41 and a 52 week high of $421.00.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Tuesday, May 13th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. The company had revenue of $317.60 million during the quarter, compared to the consensus estimate of $305.57 million. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 43.3% compared to the same quarter last year. Research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current 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.