Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. decreased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 199,703 shares of the technology company's stock after selling 8,418 shares during the quarter. Check Point Software Technologies accounts for about 2.3% of Ninety One North America Inc.'s investment portfolio, making the stock its 16th largest position. Ninety One North America Inc. owned approximately 0.18% of Check Point Software Technologies worth $37,285,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the third quarter valued at $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies in the 3rd quarter worth approximately $33,000. GAMMA Investing LLC boosted 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 worth $32,000 after buying an additional 60 shares during the period. Concord Wealth Partners bought a new position in Check Point Software Technologies in the 3rd quarter worth $37,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Check Point Software Technologies by 142.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock worth $44,000 after purchasing an additional 137 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

NASDAQ CHKP traded down $0.27 during trading on Friday, hitting $212.17. The stock had a trading volume of 849,281 shares, compared to its average volume of 884,710. The stock has a 50 day simple moving average of $191.22 and a 200 day simple moving average of $188.92. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $226.02. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 3.41 and a beta of 0.65.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Susquehanna boosted their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the company a "positive" rating in a research report on Friday, January 31st. Stifel Nicolaus increased their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Truist Financial reaffirmed a "buy" rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research note on Friday, January 31st. Morgan Stanley raised their price target on Check Point Software Technologies from $183.00 to $200.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Finally, Citigroup upped their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Nineteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $215.59.

About Check Point Software Technologies

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.