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) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,589,586 shares of the technology company’s stock after selling 15,747 shares during the period. Check Point Software Technologies accounts for about 1.8% of Ninety One UK Ltd’s investment portfolio, making the stock its 15th largest position. Ninety One UK Ltd’s holdings in Check Point Software Technologies were worth $670,176,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new position in shares of Check Point Software Technologies during the 3rd quarter worth approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies during the 3rd quarter valued at $33,000. GAMMA Investing LLC increased its position in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after buying an additional 60 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies in the third quarter worth $37,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Check Point Software Technologies by 142.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock valued at $44,000 after acquiring an additional 137 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $212.26 on Wednesday. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $226.02. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.41 and a beta of 0.65. The business has a 50-day moving average of $189.28 and a 200-day moving average of $188.26.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CHKP shares. Royal Bank of Canada boosted their target price on shares of Check Point Software Technologies from $187.00 to $215.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. The Goldman Sachs Group lowered shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. UBS Group raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Mizuho boosted their price target on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Truist Financial restated a “buy” rating and set a $250.00 price objective (up previously from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Nineteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.