Taylor Frigon Capital Management LLC Cuts Position in CyberArk Software Ltd. $CYBR

Taylor Frigon Capital Management LLC decreased its holdings in shares of CyberArk Software Ltd. (NASDAQ:CYBR) by 25.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,821 shares of the technology company’s stock after selling 1,954 shares during the period. CyberArk Software accounts for 1.4% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 20th largest position. Taylor Frigon Capital Management LLC’s holdings in CyberArk Software were worth $2,812,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in shares of CyberArk Software in the 2nd quarter worth approximately $30,000. NewSquare Capital LLC boosted its holdings in CyberArk Software by 78.0% in the second quarter. NewSquare Capital LLC now owns 73 shares of the technology company’s stock worth $30,000 after acquiring an additional 32 shares in the last quarter. AlphaCore Capital LLC bought a new stake in CyberArk Software in the second quarter worth $33,000. Promus Capital LLC purchased a new stake in shares of CyberArk Software in the second quarter worth $48,000. Finally, GAMMA Investing LLC increased its holdings in shares of CyberArk Software by 116.1% during the third quarter. GAMMA Investing LLC now owns 121 shares of the technology company’s stock valued at $58,000 after acquiring an additional 65 shares in 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 equities analysts recently issued reports on the stock. Weiss Ratings started coverage on shares of CyberArk Software in a research note on Saturday, November 1st. They issued a “sell (d-)” rating on the stock. DA Davidson reaffirmed a “buy” rating and issued a $518.00 target price on shares of CyberArk Software in a report on Friday, November 7th. JMP Securities reiterated a “market perform” rating on shares of CyberArk Software in a research note on Tuesday, September 23rd. Canaccord Genuity Group cut shares of CyberArk Software from a “buy” rating to a “hold” rating and increased their price target for the company from $440.00 to $502.00 in a report on Wednesday, October 15th. Finally, Piper Sandler set a $474.00 price objective on shares of CyberArk Software in a report on Wednesday, December 17th. Six investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $462.63.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $435.32 on Friday. The firm’s 50-day moving average price is $472.07 and its 200-day moving average price is $450.44. CyberArk Software Ltd. has a 52-week low of $288.63 and a 52-week high of $526.19. The company has a market cap of $21.97 billion, a PE ratio of -94.43, a PEG ratio of 20.73 and a beta of 0.92. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.52.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, November 6th. The technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.28. The business had revenue of $342.84 million during the quarter, compared to analyst estimates of $328.52 million. CyberArk Software had a negative net margin of 17.42% and a negative return on equity of 0.07%. The company’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. As a group, analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

CyberArk Software Profile

CyberArk Software Ltd. is a cybersecurity company that focuses on identity security and privileged access management. Its core mission is to protect organizations from cyber threats that target privileged accounts, credentials and secrets that can provide attackers with broad access to critical systems. CyberArk’s offerings are designed to help enterprises control, monitor and secure privileged credentials across on-premises, cloud and hybrid environments, reducing the risk of lateral movement and data breaches.

The company delivers a suite of software and cloud services that address privileged access, secrets management, endpoint privilege management and identity-based threat detection.