G2 Investment Partners Management sold its $11.2 million position in CyberArk Software Ltd, fully exiting the stock. The move represented 2.5% of fund assets. The company’s top holdings post-sale include DAVE, PACK, TSEM, PRCH, and PGY. CyberArk’s stock price was at $458.59, up 44% from the previous year, outperforming the S&P 500.

The sale of CyberArk stake by G2 Investment Partners Management reflects a $11.2 million decrease in their holdings. CyberArk reported strong third-quarter revenue of $342.8 million, a 43% increase year-over-year, and total ARR of $1.34 billion. Despite the sale, CyberArk remains a key player in the infrastructure software market, targeting large organizations across various sectors.

The SEC filing revealed that G2 Investment Partners Management liquidated its entire 27,578 shares in CyberArk Software Ltd. during the third quarter. This move comes amidst CyberArk’s robust financial performance, with strong revenue and net new ARR growth. The company continues to innovate and provide comprehensive security offerings, positioning it well in the cybersecurity landscape.

Read more at Yahoo Finance: Why One Firm Exited $11 Million CyberArk Stake as Stock Rallied 44% Over the Past Year