Key Points
Exited full position in CyberArk Software, reducing holdings by 42,300 shares and an approximately $17.20 million transaction value
Post-trade stake is zero shares, valued at $0
The position was previously 2.55% of the fund's AUM as of the prior quarter
On Nov. 7, 2025, Herald Investment Management Ltd disclosed in a regulatory filing that it sold out its entire position in CyberArk Software(NASDAQ:CYBR), an estimated $17.20 million transaction based on quarterly average pricing.
What Happened
According to a recent SEC filing dated Nov. 7, 2025, Herald Investment Management Ltd sold its entire position in CyberArk Software. The fund reduced its stake by 42,300 shares, a $17,199,180 trade based on quarterly average pricing. After the transaction, Herald Investment Management Ltd no longer holds shares of CyberArk Software.
What Else to Know
The fund has fully exited CyberArk Software.
Top holdings after the filing:
- NYSE:CLS: $82.49 million (11.0% of AUM) as of September 30, 2025
- NYSE:FN: $53.15 million (7.1% of AUM) as of September 30, 2025
- NASDAQ:PEGA: $40.44 million (5.4% of AUM) as of September 30, 2025
- NASDAQ:SIMO: $36.40 million (4.9% of AUM) as of September 30, 2025
- NASDAQ:SMCI: $34.49 million (4.6% of AUM) as of September 30, 2025
As of Nov. 6, 2025, shares of CyberArk Software were priced at $502.40, up 70.62% over the past year; shares have outperformed the S&P 500 by 63.09 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close Nov. 6, 2025) | $502.40 |
| Market Capitalization | $25.36 billion |
| Revenue (TTM) | $1.20 billion |
| Net Income (TTM) | ($165.37 million) |
Company Snapshot
CyberArk Software provides privileged access management, endpoint privilege security, cloud entitlement management, and identity and access management solutions, with a focus on software-based security products and SaaS offerings.
The company generates revenue primarily through the licensing of software, subscription-based SaaS, and maintenance and support services, targeting enterprise security needs across hybrid and cloud environments.
CyberArk Software serves large enterprises and organizations in sectors such as financial services, manufacturing, healthcare, energy, transportation, retail, technology, telecommunications, and government agencies worldwide.
CyberArk Software is a leading provider of identity security and privileged access management solutions, serving a global customer base from its headquarters in Israel. The company leverages a robust portfolio of software and SaaS offerings to address complex security needs for enterprises operating in increasingly digital and cloud-based environments.
With a market capitalization of $25.36 billion and annualized revenue of $1.20 billion (TTM), CyberArk Software continues to expand its reach through innovation and a focus on critical security infrastructure. Its specialized solutions and strong presence in regulated industries position the company as a key player in the cybersecurity software sector.
Foolish Take
Herald Investment Management's decision to sell $17.2 million worth of CyberArk Software stock is a significant development that investors should note -- here's why.
Shares of CyberArk have been on a roll. The company's stock has advanced by an impressive 51% year-to-date. However, its three-year performance is even more spectacular.
Over the last three years, CyberArk has generated a total return of 250%, equating to an eye-popping compound annual growth rate (CAGR) of 51.7%. By contrast, the S&P 500 is up 86% over the last three years, with a CAGR of 23%.
The stock's excellent performance makes the sudden sale by Herald all the more noteworthy. Herald not only reduced its holdings in CyberArk; it closed its entire stake. Such a move often indicates a shift in sentiment, as opposed to run-of-the-mill profit taking.
In summary, a major institutional investor has changed course on CyberArk -- a stock that has outperformed the S&P 500 for several years. And while this transaction alone is not a reason to sell the stock, it is worthy of notice.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing their holdings in U.S. securities.
AUM (Assets Under Management): The total market value of investments managed by a fund or investment firm on behalf of clients.
Privileged access management: Security systems that control and monitor access to critical systems and sensitive information by users with elevated permissions.
Endpoint privilege security: Protection of computers and devices by managing and restricting user privileges to reduce security risks.
Cloud entitlement management: Tools and processes for controlling and monitoring user permissions and access rights in cloud environments.
Identity and access management (IAM): Systems and policies that ensure only authorized individuals can access specific resources or information.
SaaS (Software as a Service): Software delivered over the internet on a subscription basis, rather than installed locally.
Stake: The ownership interest or investment a fund or individual holds in a particular company.
Exited full position: When an investor sells all shares they previously held in a specific company.
Regulated industries: Sectors subject to government oversight and compliance requirements, such as finance, healthcare, and energy.
Quarterly average pricing: The average price of a security over a specific quarter, often used to estimate transaction values.
TTM: The 12-month period ending with the most recent quarterly report.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Celestica. The Motley Fool has a disclosure policy.
