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

Ninety One UK Ltd trimmed its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,589,586 shares of the technology company's stock after selling 15,747 shares during the quarter. Check Point Software Technologies comprises approximately 1.8% of Ninety One UK Ltd's portfolio, making the stock its 15th biggest position. Ninety One UK Ltd owned approximately 3.26% of Check Point Software Technologies worth $670,176,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP acquired a new stake in shares of Check Point Software Technologies during the second quarter worth about $2,079,000. Millennium Management LLC increased its position in Check Point Software Technologies by 20.6% during the second quarter. Millennium Management LLC now owns 44,101 shares of the technology company's stock worth $7,277,000 after buying an additional 7,523 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Check Point Software Technologies in the second quarter valued at approximately $250,000. Sanctuary Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the second quarter valued at approximately $703,000. Finally, Fulton Bank N.A. grew its position in shares of Check Point Software Technologies by 14.9% during the third quarter. Fulton Bank N.A. now owns 1,683 shares of the technology company's stock worth $324,000 after acquiring an additional 218 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 0.1 %

Shares of CHKP stock traded down $0.20 during mid-day trading on Friday, reaching $212.24. The stock had a trading volume of 1,053,976 shares, compared to its average volume of 853,128. The company has a market cap of $23.34 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 3.31 and a beta of 0.65. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $226.02. The business has a 50-day simple moving average of $191.83 and a 200 day simple moving average of $189.21.

Wall Street Analyst Weigh In

Several analysts recently commented on CHKP shares. Mizuho upped their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Jefferies Financial Group increased their target price on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. The Goldman Sachs Group cut Check Point Software Technologies from a "buy" rating to a "neutral" rating and boosted their price target for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Susquehanna increased their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research report on Friday, January 31st. Finally, Morgan Stanley upped their price target on Check Point Software Technologies from $183.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Nineteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $215.59.

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.