Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC lifted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,669 shares of the technology company’s stock after purchasing an additional 241 shares during the quarter. ARK Investment Management LLC’s holdings in Check Point Software Technologies were worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHKP. International Assets Investment Management LLC purchased a new position in Check Point Software Technologies during the 4th quarter valued at about $47,160,000. abrdn plc lifted its holdings in Check Point Software Technologies by 93.6% during the 4th quarter. abrdn plc now owns 33,747 shares of the technology company’s stock worth $5,156,000 after buying an additional 16,313 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth $508,000. Truist Financial Corp raised its stake in shares of Check Point Software Technologies by 5.0% in the fourth quarter. Truist Financial Corp now owns 123,319 shares of the technology company’s stock valued at $18,842,000 after acquiring an additional 5,866 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in Check Point Software Technologies in the fourth quarter valued at $210,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. KeyCorp raised Check Point Software Technologies to a “hold” rating in a research report on Tuesday, May 14th. Jefferies Financial Group increased their price target on shares of Check Point Software Technologies from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of Check Point Software Technologies from $165.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Finally, Wedbush upped their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and an average target price of $183.68.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock traded down $1.40 during trading on Tuesday, reaching $188.11. The company had a trading volume of 281,062 shares, compared to its average volume of 696,565. Check Point Software Technologies Ltd. has a 12-month low of $126.57 and a 12-month high of $192.00. The stock’s 50 day moving average price is $174.45 and its two-hundred day moving average price is $163.86. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same quarter last year, the business earned $1.74 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, research analysts expect that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current year.

Check Point Software Technologies 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.