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

ARK Investment Management LLC decreased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKPGet Rating) by 24.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,700 shares of the technology company’s stock after selling 4,947 shares during the quarter. ARK Investment Management LLC’s holdings in Check Point Software Technologies were worth $1,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ardevora Asset Management LLP increased its stake in Check Point Software Technologies by 40.4% during the second quarter. Ardevora Asset Management LLP now owns 534,034 shares of the technology company’s stock worth $65,035,000 after acquiring an additional 153,793 shares during the last quarter. NuWave Investment Management LLC increased its stake in Check Point Software Technologies by 86.7% during the second quarter. NuWave Investment Management LLC now owns 943 shares of the technology company’s stock worth $115,000 after acquiring an additional 438 shares during the last quarter. Richard P Slaughter Associates Inc increased its stake in Check Point Software Technologies by 9.0% during the second quarter. Richard P Slaughter Associates Inc now owns 16,289 shares of the technology company’s stock worth $1,983,000 after acquiring an additional 1,341 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Check Point Software Technologies during the second quarter worth $320,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Check Point Software Technologies by 20.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 759,775 shares of the technology company’s stock worth $105,047,000 after acquiring an additional 128,833 shares during the last quarter. Institutional investors and hedge funds own 67.03% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $118.15 on Tuesday. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The business has a 50-day moving average of $122.07 and a two-hundred day moving average of $127.54. Check Point Software Technologies Ltd. has a 1 year low of $107.85 and a 1 year high of $149.62.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last announced its quarterly earnings results on Monday, August 1st. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.02. The company 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%. Check Point Software Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 EPS. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 6.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHKP. Piper Sandler dropped their price objective on Check Point Software Technologies from $130.00 to $120.00 in a research note on Wednesday, July 13th. Bank of America raised Check Point Software Technologies from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $140.00 in a research note on Wednesday, July 20th. Barclays dropped their price objective on Check Point Software Technologies from $145.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 2nd. Jefferies Financial Group dropped their price objective on Check Point Software Technologies from $145.00 to $130.00 in a research note on Monday, May 23rd. Finally, BMO Capital Markets dropped their price objective on Check Point Software Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, August 2nd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $139.06.

Check Point Software Technologies Profile

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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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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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