Corebridge Financial Inc. Trims Stake in CyberArk Software Ltd. (NASDAQ:CYBR)

Corebridge Financial Inc. cut its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,215 shares of the technology company’s stock after selling 229 shares during the quarter. Corebridge Financial Inc.’s holdings in CyberArk Software were worth $2,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in CyberArk Software during the fourth quarter worth about $25,000. TD Private Client Wealth LLC lifted its holdings in shares of CyberArk Software by 79.1% in the 4th 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 acquired a new stake in CyberArk Software in the 4th quarter valued at approximately $39,000. Montag A & Associates Inc. raised its position in CyberArk Software by 47.2% in the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after purchasing an additional 42 shares during the period. Finally, Brown Lisle Cummings Inc. acquired a new position in CyberArk Software during the fourth quarter worth $50,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CYBR. Mizuho lifted their price objective on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Guggenheim reiterated a “buy” rating and set a $455.00 price target on shares of CyberArk Software in a research note on Tuesday, February 25th. JMP Securities lifted their price objective on shares of CyberArk Software from $390.00 to $480.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Citigroup increased their target price on shares of CyberArk Software from $410.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company boosted their price target on shares of CyberArk Software from $425.00 to $500.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $418.04.

CyberArk Software Stock Performance

CyberArk Software stock opened at $348.26 on Wednesday. CyberArk Software Ltd. has a one year low of $223.41 and a one year high of $421.00. The company has a market cap of $17.21 billion, a P/E ratio of -178.59 and a beta of 1.06. The business has a fifty day moving average of $363.73 and a two-hundred day moving average of $327.66.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts predict that CyberArk Software Ltd. will post -0.47 EPS 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.