Insider Selling

CyberArk CEO files Form 144 while stock is gaining followers

CyberArk Software Ltd (CYBR: US) is a software company that offers security solutions and services. Founded in 1999, the company went public in September 2014, where it commenced by offering 6,164,000 shares at $16.00 value each. The company has headquarters in both its origin country, Israel, as well as the US, and possesses a current M Cap of $5.33 billion. 

Other cybersecurity stocks like CyberArk have had a mediocre year so far. In a list published on July 18, 2022, the company was named amongst the 30 best companies for services in the tech security industry. As of yet, CYBR stock has dived by nearly 23.21% year-to-date. 

Top-Level Insiders files Form 144

A significant number of insiders at CyberArk have filed Form 144s since the beginning of 2022. One special mention amongst them is Ehud ‘Udi’ Mokady, the company’s Co-Founder, Chairman, and CEO. On July 20, Mokady filed his fifth Form 144 this year. The form was for 50,000 shares, worth roughly $7.03 million. 

The same year as CyberArk’s IPO, Mokady was named the 2014 Ernst & Young Entrepreneur of the Year in the Tech Security category in New England. Furthermore, he was a Director at Demisto, which was later acquired by Palo Alto Networks Inc (PANW: US), the latter being another cybersecurity company whose stock is in high demand with its high returns.

CyberArk in the News

On May 12, 2022, the company announced its earnings for 2022’s first quarter: the net revenue of the quarter was $127.6 million while its revenues from subscription services had soared by 110% compared to Q1 2021. GAAP operating loss amounted to $41.1 million, which also was significantly higher than Q1 2021. On the same day, CYBR stock closed at $120.50; the price being 12.27% higher than the previous day’s closing price.

Further good news included that 21 research firms gave CyberArk a ‘buy’ rating in a recent report. The report also went on to reveal that several hedge funds too changed their positions in the software stock. 

In the news, CyberArk stock is faring well, but Insiders filing Form 144s constantly is sending mixed signals. Cybersecurity is a high-demand market for the coming years, and although CYBR is not very high up on the list of popular cyber security stocks, it is there regardless.

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