KLP Kapitalforvaltning AS Purchases Shares of 13,550 CyberArk Software Ltd. (NASDAQ:CYBR)

KLP Kapitalforvaltning AS bought a new position in CyberArk Software Ltd. (NASDAQ:CYBR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 13,550 shares of the technology company’s stock, valued at approximately $4,514,000.

Several other institutional investors have also added to or reduced their stakes in the business. Sei Investments Co. increased its stake in CyberArk Software by 12.1% in the 4th quarter. Sei Investments Co. now owns 128,406 shares of the technology company’s stock worth $42,779,000 after purchasing an additional 13,823 shares during the period. TD Private Client Wealth LLC increased 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 buying an additional 34 shares during the period. Semanteon Capital Management LP raised its holdings in CyberArk Software by 44.6% during the 4th quarter. Semanteon Capital Management LP now owns 4,669 shares of the technology company’s stock valued at $1,555,000 after buying an additional 1,440 shares during the last quarter. Magnetar Financial LLC purchased a new stake in CyberArk Software during the 4th quarter valued at $273,000. Finally, Teacher Retirement System of Texas grew its holdings in CyberArk Software by 137.7% in the 4th quarter. Teacher Retirement System of Texas now owns 11,518 shares of the technology company’s stock worth $3,837,000 after acquiring an additional 6,673 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CYBR shares. Robert W. Baird increased their target price on shares of CyberArk Software from $455.00 to $465.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Citigroup upped their target price on CyberArk Software from $410.00 to $450.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Canaccord Genuity Group lifted their price target on shares of CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a report on Friday, February 14th. Oppenheimer upped their price objective 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, Morgan Stanley initiated coverage on shares of CyberArk Software in a research note on Tuesday, March 18th. They issued an “equal weight” rating for the company. Two research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $418.15.

CyberArk Software Trading Up 2.1 %

Shares of CYBR stock opened at $358.28 on Wednesday. CyberArk Software Ltd. has a 12-month low of $223.41 and a 12-month high of $421.00. The stock has a market capitalization of $17.71 billion, a P/E ratio of -183.73 and a beta of 1.06. The firm’s 50 day moving average is $364.76 and its 200 day moving average is $324.98.

CyberArk Software (NASDAQ:CYBR) last released 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 positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, equities analysts predict that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

CyberArk Software Company 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.