Pier 88 Investment Partners LLC Reduces Position in CyberArk Software Ltd. (NASDAQ:CYBR)

Pier 88 Investment Partners LLC cut its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 25.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,460 shares of the technology company’s stock after selling 5,000 shares during the period. CyberArk Software accounts for 0.9% of Pier 88 Investment Partners LLC’s investment portfolio, making the stock its 25th largest holding. Pier 88 Investment Partners LLC’s holdings in CyberArk Software were worth $4,817,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its holdings in shares of CyberArk Software by 79.1% during the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after purchasing an additional 34 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in CyberArk Software by 3.5% during the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares during the period. Montag A & Associates Inc. grew its stake 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 valued at $44,000 after buying an additional 42 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of CyberArk Software by 6.9% in the fourth quarter. Venturi Wealth Management LLC now owns 805 shares of the technology company’s stock worth $268,000 after buying an additional 52 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of CyberArk Software by 1.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,827 shares of the technology company’s stock valued at $1,275,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Down 1.6 %

Shares of NASDAQ CYBR opened at $335.74 on Monday. The company has a 50 day moving average of $364.16 and a 200 day moving average of $326.66. CyberArk Software Ltd. has a twelve month low of $223.41 and a twelve month high of $421.00. The firm has a market cap of $16.59 billion, a P/E ratio of -172.17 and a beta of 1.06.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on CYBR shares. Cantor Fitzgerald reissued an “overweight” rating and set a $415.00 price objective on shares of CyberArk Software in a research note on Monday, January 27th. StockNews.com lowered shares of CyberArk Software from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Piper Sandler upped their price objective on shares of CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Guggenheim restated a “buy” rating and set a $455.00 price target on shares of CyberArk Software in a report on Tuesday, February 25th. Finally, Morgan Stanley began coverage on CyberArk Software in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $418.15.

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.