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

ARK Investment Management LLC lowered its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Regatta Capital Group LLC increased its position in Check Point Software Technologies by 4.9% during the 4th quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company’s stock worth $229,000 after purchasing an additional 57 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Check Point Software Technologies by 3.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company’s stock worth $353,000 after acquiring an additional 57 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of Check Point Software Technologies by 2.7% during the 4th quarter. Strategic Investment Advisors MI now owns 2,263 shares of the technology company’s stock valued at $423,000 after acquiring an additional 60 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. boosted its position in Check Point Software Technologies by 5.8% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 1,100 shares of the technology company’s stock worth $205,000 after purchasing an additional 60 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Trading Up 1.0 %

Shares of Check Point Software Technologies stock opened at $220.92 on Thursday. The stock has a market capitalization of $24.30 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 3.41 and a beta of 0.65. Check Point Software Technologies Ltd. has a twelve month low of $145.75 and a twelve month high of $226.02. The business’s 50 day simple moving average is $200.15 and its 200-day simple moving average is $192.87.

Wall Street Analyst Weigh In

CHKP has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up previously from $220.00) on shares of Check Point Software Technologies in a research note on Friday, January 31st. Jefferies Financial Group boosted their price objective on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup raised their target price on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Stifel Nicolaus raised their price objective on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Nineteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $219.64.

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.