Atika Capital Management LLC Trims Stake in CyberArk Software Ltd. (NASDAQ:CYBR)

Atika Capital Management LLC cut its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 17.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,500 shares of the technology company’s stock after selling 9,500 shares during the quarter. CyberArk Software comprises approximately 1.6% of Atika Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Atika Capital Management LLC owned 0.10% of CyberArk Software worth $15,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of CyberArk Software by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 29,600 shares of the technology company’s stock valued at $8,632,000 after acquiring an additional 1,557 shares in the last quarter. MetLife Investment Management LLC raised its position in CyberArk Software by 5.4% in the 3rd quarter. MetLife Investment Management LLC now owns 3,900 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 200 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of CyberArk Software by 147.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 3,299 shares of the technology company’s stock valued at $962,000 after buying an additional 1,964 shares during the period. HighTower Advisors LLC grew its position in shares of CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after buying an additional 2,062 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its stake in shares of CyberArk Software by 55.5% during the third quarter. Investment Management Corp of Ontario now owns 1,401 shares of the technology company’s stock worth $409,000 after buying an additional 500 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Trading Down 6.6 %

Shares of NASDAQ CYBR opened at $306.46 on Friday. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of -157.16 and a beta of 1.06. The company’s 50-day moving average price is $361.79 and its 200 day moving average price is $328.40. CyberArk Software Ltd. has a 52 week low of $223.41 and a 52 week high of $421.00.

CyberArk Software (NASDAQ:CYBR) last posted its 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, research analysts expect that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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 report on Friday, February 14th. Stephens assumed coverage on CyberArk Software in a report on Tuesday, April 1st. They issued an “overweight” rating and a $440.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $415.00 price target on shares of CyberArk Software in a report on Monday, January 27th. Robert W. Baird increased their price objective on CyberArk Software from $455.00 to $465.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $480.00 target price on shares of CyberArk Software in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $418.04.

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.