ARK Investment Management LLC Has $1.84 Million Position in Cognyte Software Ltd. (NASDAQ:CGNT)

ARK Investment Management LLC lowered its stake in shares of Cognyte Software Ltd. (NASDAQ:CGNT) by 18.5% in the third quarter, Holdings Channel reports. The firm owned 270,315 shares of the medical device company’s stock after selling 61,170 shares during the period. ARK Investment Management LLC’s holdings in Cognyte Software were worth $1,835,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CGNT. Signaturefd LLC lifted its stake in shares of Cognyte Software by 91.4% in the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after buying an additional 1,581 shares during the last quarter. nVerses Capital LLC acquired a new position in Cognyte Software during the 2nd quarter worth $28,000. DT Investment Partners LLC acquired a new position in Cognyte Software during the 2nd quarter worth $62,000. Covestor Ltd acquired a new stake in shares of Cognyte Software in the first quarter valued at about $73,000. Finally, Magnetar Financial LLC bought a new position in shares of Cognyte Software in the second quarter worth about $117,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Insider Buying and Selling

In other Cognyte Software news, insider Topline Capital Management, Ll acquired 416,040 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the purchase, the insider now owns 9,020,184 shares in the company, valued at $56,827,159.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Topline Capital Management, Ll acquired 416,040 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the acquisition, the insider now owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the completion of the acquisition, the insider now owns 8,604,144 shares in the company, valued at $54,292,148.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Cognyte Software Stock Performance

NASDAQ CGNT opened at $6.93 on Friday. Cognyte Software Ltd. has a twelve month low of $4.01 and a twelve month high of $8.70. The stock has a market cap of $498.20 million, a PE ratio of -99.27 and a beta of 1.72. The firm has a 50-day simple moving average of $6.81 and a 200 day simple moving average of $7.26.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $84.40 million during the quarter, compared to the consensus estimate of $83.69 million. Cognyte Software had a negative return on equity of 2.56% and a negative net margin of 1.35%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) EPS. Research analysts forecast that Cognyte Software Ltd. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CGNT has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd.

Cognyte Software Profile

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.