ARK Investment Management LLC decreased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 24.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,700 shares of the technology company's stock after selling 4,947 shares during the period. ARK Investment Management LLC's holdings in Check Point Software Technologies were worth $1,964,000 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 business. Ardevora Asset Management LLP increased its position in Check Point Software Technologies by 40.4% during the 2nd quarter. Ardevora Asset Management LLP now owns 534,034 shares of the technology company's stock worth $65,035,000 after purchasing an additional 153,793 shares during the period. NuWave Investment Management LLC increased its position in Check Point Software Technologies by 86.7% during the 2nd quarter. NuWave Investment Management LLC now owns 943 shares of the technology company's stock worth $115,000 after purchasing an additional 438 shares during the period. Richard P Slaughter Associates Inc increased its position in Check Point Software Technologies by 9.0% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 16,289 shares of the technology company's stock worth $1,983,000 after purchasing an additional 1,341 shares during the period. Fulton Bank N.A. acquired a new position in Check Point Software Technologies during the 2nd quarter worth approximately $320,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Check Point Software Technologies by 20.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 759,775 shares of the technology company's stock worth $105,047,000 after purchasing an additional 128,833 shares during the period. Institutional investors and hedge funds own 67.03% of the company's stock.
Get Check Point Software Technologies alerts:Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on CHKP shares. BMO Capital Markets dropped their target price on Check Point Software Technologies from $155.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 2nd. Jefferies Financial Group decreased their price target on Check Point Software Technologies from $145.00 to $130.00 in a research note on Monday, May 23rd. Barclays decreased their price target on Check Point Software Technologies from $145.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 2nd. Piper Sandler decreased their price target on Check Point Software Technologies from $130.00 to $120.00 in a research note on Wednesday, July 13th. Finally, Bank of America raised Check Point Software Technologies from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $130.00 to $140.00 in a research note on Wednesday, July 20th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $139.06.
Check Point Software Technologies Stock Up 0.8 %
Shares of Check Point Software Technologies stock opened at $118.15 on Tuesday. Check Point Software Technologies Ltd. has a fifty-two week low of $107.85 and a fifty-two week high of $149.62. The firm has a market cap of $14.82 billion, a PE ratio of 19.41, a P/E/G ratio of 2.54 and a beta of 0.61. The business's fifty day moving average is $122.07 and its two-hundred day moving average is $127.54.Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last released its quarterly earnings data on Monday, August 1st. The technology company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The business had revenue of $571.10 million during the quarter, compared to the consensus estimate of $560.40 million. Check Point Software Technologies had a return on equity of 25.49% and a net margin of 35.15%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. Equities research analysts anticipate that Check Point Software Technologies Ltd. will post 6.29 EPS for the current year.
About Check Point Software Technologies
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Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.
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