ARK Investment Management LLC Lowers Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

ARK Investment Management LLC trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 25.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,793 shares of the technology company’s stock after selling 3,006 shares during the quarter. ARK Investment Management LLC’s holdings in Check Point Software Technologies were worth $1,642,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Check Point Software Technologies by 73.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock valued at $211,105,000 after purchasing an additional 464,821 shares during the last quarter. World Investment Advisors LLC acquired a new position in Check Point Software Technologies in the third quarter valued at $51,922,000. FMR LLC increased its position in Check Point Software Technologies by 28.7% in the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after acquiring an additional 252,581 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Check Point Software Technologies by 10.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock worth $354,153,000 after purchasing an additional 177,104 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in Check Point Software Technologies by 26.9% during the 4th quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock worth $90,976,000 after buying an additional 103,388 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CHKP. Truist Financial reiterated a “buy” rating and issued a $250.00 price objective (up previously from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $221.00 to $255.00 in a report on Wednesday. Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Susquehanna boosted their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets raised their target price on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Nineteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $219.64.

Check Point Software Technologies Trading Up 1.0 %

Shares of NASDAQ:CHKP opened at $220.92 on Thursday. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 3.41 and a beta of 0.65. The stock’s 50-day moving average price is $200.15 and its two-hundred day moving average price is $192.87. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $226.02.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.