In the hush of autumn’s accounting, London’s Sand Grove Capital Management sowed a seed-a $18.9 million stake in CyberArk Software Ltd.-its roots reaching into the soil of a market thawing after winter’s grip. The Securities and Exchange Commission, that arbiter of financial seasons, recorded the act on November 14, a quiet herald of spring.
What Happened
A filing, crisp as a new leaf, revealed Sand Grove’s purchase of 39,121 shares in CyberArk (CYBR 0.72%) by quarter’s end, valued at $18.9 million. The gesture, though modest against the vast forest of capital, hinted at a belief in the sap rising within this particular tree.
What Else to Know
This position, a ninth of Sand Grove’s reportable assets, nestled among titans-Tekla (TXN), Kraft Heinz (K), Norfolk Southern (NSC)-like a fox among oxen. Yet here, in the shadow of industrial giants, CyberArk’s name lingered, a whisper of digital sentinels and recurring revenue.
- NYSE:TXNM: $33.54 million (16.4% of AUM)
- NYSE:K: $26.73 million (13.1% of AUM)
- NYSE:NSC: $25.35 million (12.4% of AUM)
- NASDAQ:MRUS: $22.54 million (11.0% of AUM)
- NASDAQ:EA: $22.44 million (11.0% of AUM)
CyberArk’s shares, priced at $454.34, had climbed like ivy on a sunlit wall-43% higher year-to-date, outpacing the S&P 500’s plodding ascent. The market, it seemed, had caught the scent of blooming algorithms.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Tuesday) | $454.34 |
| Market Capitalization | $22.93 billion |
| Revenue (TTM) | $1.30 billion |
| Net Income (TTM) | ($226.92 million) |
Company Snapshot
- CyberArk tends to the fortress of digital realms-guarding privileged access, identities, endpoints, and cloud realms-with a mix of software and SaaS, its tools as essential as plows to a farmer.
- Its clients, a mosaic of finance, healthcare, and government, trust CyberArk to navigate the labyrinth of compliance and cyber threats, a modern-day Daedalus in a world of Minotaurs.
- The company’s reach, global as the moon’s pull, relies on sales forces and partners, a network as intricate as mycelium beneath the forest floor.
CyberArk, a titan in identity security, wields a SaaS platform like a scalpel, dissecting the vulnerabilities of enterprises. Its bets on recurring revenue and regulatory fortification mark it not as a fleeting storm, but a river carving its path through the bedrock of digital necessity.
Foolish Take
To buy a stock in the throes of ascent is to plant a flag on a moving tide. Sand Grove’s bet, however, reads less as a gamble and more as a wager on enduring currents. Third-quarter results, like a lighthouse piercing fog, revealed revenue surging 43% to $342.8 million, subscriptions climbing 60% to $280.1 million. Annual recurring revenue, now $1.34 billion, hums with the rhythm of a metronome-steady, predictable, unyielding.
This position, a ninth of the fund’s heart, rests beside industrials and railroads, suggesting CyberArk is no longer a speculative sapling but an oak in the portfolio’s grove. It is seen not as a flash fire, but as a hearth-its embers destined to warm many winters. When funds reclassify a stock from “cyclical” to “durable,” they whisper a truth: the engine has found its rhythm.
Glossary
Assets Under Management (AUM): The weight of capital a fund bears, measured in dollars and dreams.
13F Reportable Assets: The publicly traded securities a fund must disclose, like footprints in snow.
Position: A stake in the earth, financial or otherwise.
Privileged Access Management: The art of locking gates and counting keys in the digital kingdom.
Identity Security: The vigilance of a sentry over data’s citadel.
Endpoint Protection: The armor of laptops and phones against digital wolves.
Cloud Entitlement Management: The ledger of who may drink from the cloud’s well.
SaaS (Software as a Service): Code delivered like mail, subscription by subscription.
Outperforming: To race ahead of the pack, even if the finish line blurs.
Top Five Holdings: The crown jewels of a portfolio’s treasury.
Filing: A letter to regulators, sealed and signed.
TTM: The calendar’s last twelve pages, inked with numbers.
Thus speaks the market, in numbers and metaphors, a language of growth and frost. 🌱
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2025-12-23 23:02