ARK Investment Management LLC Sells 3,006 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

ARK Investment Management LLC reduced its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 25.5% in the fourth quarter, according to the company in 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 period. 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 hedge funds have also recently made changes to their positions in CHKP. Bank of Montreal Can raised its holdings in shares of Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company's stock valued at $16,532,000 after purchasing an additional 20,866 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Check Point Software Technologies during the third quarter worth approximately $1,599,000. Truist Financial Corp boosted its stake in Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company's stock worth $22,311,000 after buying an additional 3,080 shares during the last quarter. MML Investors Services LLC increased its stake in Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company's stock worth $19,957,000 after acquiring an additional 3,655 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Check Point Software Technologies by 14.5% in the fourth quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company's stock valued at $1,790,000 after buying an additional 1,215 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Stock Performance

CHKP traded up $3.57 during trading hours on Friday, reaching $220.26. The company's stock had a trading volume of 1,092,734 shares, compared to its average volume of 914,147. The firm has a market cap of $24.22 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. The company's 50-day moving average is $201.38 and its 200-day moving average is $193.38. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $226.02.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CHKP shares. BMO Capital Markets lifted their price objective on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the company a "market perform" rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Check Point Software Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Scotiabank upped their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a "sector outperform" rating in a research report on Friday, January 31st. Arete Research upgraded Check Point Software Technologies to a "hold" rating in a research report on Monday, February 24th. Finally, Jefferies Financial Group increased their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a research report on Thursday. Nineteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $221.91.

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.