Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Core Growth Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed its benchmark index, the Russell 2000 Growth which gained 4.13%. The Russell 2000 Index rose 6.23% in the same period. The stock price strength of healthcare holdings led to the outperformance of the strategy in the quarter relative to the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Small Cap Core Growth Strategy highlighted stocks like CyberArk Software Ltd. (NASDAQ:CYBR) in the Q4 2022 investor letter. Headquartered in Petah Tikva, Israel, CyberArk Software Ltd. (NASDAQ:CYBR) is a software-based security solutions provider. On March 20, 2023, CyberArk Software Ltd. (NASDAQ:CYBR) stock closed at $141.03 per share. One-month return of CyberArk Software Ltd. (NASDAQ:CYBR) was -3.52%, and its shares lost 15.98% of their value over the last 52 weeks. CyberArk Software Ltd. (NASDAQ:CYBR) has a market capitalization of $5.875 billion.
Wasatch Small Cap Core Growth Strategy made the following comment about CyberArk Software Ltd. (NASDAQ:CYBR) in its Q4 2022 investor letter:
“IT accounted for several of the greatest detractors from strategy performance during the fourth quarter. Among these were Paylocity Holding Corp. (PCTY), CyberArk Software Ltd. (NASDAQ:CYBR) and Q2 Holdings, Inc. (QTWO).
A cybersecurity company that operates globally, CyberArk specializes in products and services to protect and safeguard customers’ IT networks and devices. A recent flurry of buyouts by private equity firms has fostered an active rumor mill that’s at times produced rapid gyrations in the prices of cybersecurity stocks. We suspect CyberArk may have been the target of some of this speculation during the third quarter. Moreover, the growing slate of security products offered by cloud-computing giants Microsoft, Amazon Web Services and Google may have bruised investor sentiment toward the group.”
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CyberArk Software Ltd. (NASDAQ:CYBR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held CyberArk Software Ltd. (NASDAQ:CYBR) at the end of the fourth quarter which was 32 in the previous quarter.
We discussed CyberArk Software Ltd. (NASDAQ:CYBR) in another article and shared Baron Discovery Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
