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        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001969276</cik>
                    <ccc>XXXXXXXX</ccc>
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            </filer>
            <liveTestFlag>LIVE</liveTestFlag>



        </filerInfo>
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        <issuerInfo>
            <issuerCik>0001598110</issuerCik>
            <issuerName>CYBERARK SOFTWARE LTD.</issuerName>
            <secFileNumber>001-36625</secFileNumber>
            <issuerAddress>
                <ns2:street1>9 Hapsagot St.</ns2:street1>
                <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                <ns2:city>Petach-Tikva</ns2:city>
                <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                <ns2:zipCode>4951041</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>972 (3) 918-0000</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>EHUD MOKADY</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Director</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>8th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>18267</noOfUnitsSold>
            <aggregateMarketValue>7526223.20</aggregateMarketValue>
            <noOfUnitsOutstanding>49291617</noOfUnitsOutstanding>
            <approxSaleDate>02/18/2025</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>02/15/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>2223</amountOfSecuritiesAcquired>
            <paymentDate>02/15/2025</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>02/15/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>16044</amountOfSecuritiesAcquired>
            <paymentDate>02/15/2025</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>EHUD MOKADY</name>
                <address>
                    <ns2:street1>9 Hapsagot St.</ns2:street1>
                    <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                    <ns2:city>Petach-Tikva</ns2:city>
                    <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                    <ns2:zipCode>4951041</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>02/03/2025</saleDate>
            <amountOfSecuritiesSold>1176</amountOfSecuritiesSold>
            <grossProceeds>434472.02</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>EHUD MOKADY</name>
                <address>
                    <ns2:street1>9 Hapsagot St.</ns2:street1>
                    <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                    <ns2:city>Petach-Tikva</ns2:city>
                    <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                    <ns2:zipCode>4951041</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>01/21/2025</saleDate>
            <amountOfSecuritiesSold>1176</amountOfSecuritiesSold>
            <grossProceeds>414095.47</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>EHUD MOKADY</name>
                <address>
                    <ns2:street1>9 Hapsagot St.</ns2:street1>
                    <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                    <ns2:city>Petach-Tikva</ns2:city>
                    <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                    <ns2:zipCode>4951041</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>01/06/2025</saleDate>
            <amountOfSecuritiesSold>1176</amountOfSecuritiesSold>
            <grossProceeds>404899.95</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>EHUD MOKADY</name>
                <address>
                    <ns2:street1>9 Hapsagot St.</ns2:street1>
                    <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                    <ns2:city>Petach-Tikva</ns2:city>
                    <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                    <ns2:zipCode>4951041</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>12/16/2024</saleDate>
            <amountOfSecuritiesSold>1176</amountOfSecuritiesSold>
            <grossProceeds>375416.83</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>EHUD MOKADY</name>
                <address>
                    <ns2:street1>9 Hapsagot St.</ns2:street1>
                    <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                    <ns2:city>Petach-Tikva</ns2:city>
                    <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                    <ns2:zipCode>4951041</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>12/16/2024</saleDate>
            <amountOfSecuritiesSold>1380</amountOfSecuritiesSold>
            <grossProceeds>435813.94</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>EHUD MOKADY</name>
                <address>
                    <ns2:street1>9 Hapsagot St.</ns2:street1>
                    <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                    <ns2:city>Petach-Tikva</ns2:city>
                    <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                    <ns2:zipCode>4951041</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>12/02/2024</saleDate>
            <amountOfSecuritiesSold>1176</amountOfSecuritiesSold>
            <grossProceeds>377836.80</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>EHUD MOKADY</name>
                <address>
                    <ns2:street1>9 Hapsagot St.</ns2:street1>
                    <ns2:street2>Park Ofer 2, P.O. BOX 3143</ns2:street2>
                    <ns2:city>Petach-Tikva</ns2:city>
                    <ns2:stateOrCountry>L3</ns2:stateOrCountry>
                    <ns2:zipCode>4951041</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>11/25/2024</saleDate>
            <amountOfSecuritiesSold>1176</amountOfSecuritiesSold>
            <grossProceeds>379444.16</grossProceeds>
        </securitiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>02/18/2025</noticeDate>
            <planAdoptionDates/>
            <signature>/s/ Ehud Mokady</signature>
        </noticeSignature>
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144
0001969276
XXXXXXXX
LIVE
0001598110
CYBERARK SOFTWARE LTD.
001-36625
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
972 (3) 918-0000
EHUD MOKADY
Director
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
8th Floor
New York
NY
10004
18267
7526223.20
49291617
02/18/2025
NASDAQ
Common
02/15/2025
Restricted Stock
Issuer
N
2223
02/15/2025
Not Applicable
Common
02/15/2025
Performance Shares
Issuer
N
16044
02/15/2025
Not Applicable
N
EHUD MOKADY
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
Common
02/03/2025
1176
434472.02
EHUD MOKADY
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
Common
01/21/2025
1176
414095.47
EHUD MOKADY
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
Common
01/06/2025
1176
404899.95
EHUD MOKADY
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
Common
12/16/2024
1176
375416.83
EHUD MOKADY
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
Common
12/16/2024
1380
435813.94
EHUD MOKADY
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
Common
12/02/2024
1176
377836.80
EHUD MOKADY
9 Hapsagot St.
Park Ofer 2, P.O. BOX 3143
Petach-Tikva
L3
4951041
Common
11/25/2024
1176
379444.16
02/18/2025
/s/ Ehud Mokady