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

Ninety One North America Inc. lowered its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 199,703 shares of the technology company’s stock after selling 8,418 shares during the quarter. Check Point Software Technologies comprises about 2.3% of Ninety One North America Inc.’s investment portfolio, making the stock its 16th largest position. Ninety One North America Inc.’s holdings in Check Point Software Technologies were worth $37,285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHKP. FSA Wealth Management LLC acquired a new stake in Check Point Software Technologies during the third quarter valued at approximately $27,000. GAMMA Investing LLC raised its stake 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 valued at $32,000 after buying an additional 60 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in Check Point Software Technologies during the third quarter valued at approximately $33,000. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies during the 3rd quarter worth approximately $37,000. Finally, Exchange Traded Concepts LLC raised 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 period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $213.01 on Tuesday. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $226.02. The business has a 50-day moving average of $188.67 and a two-hundred day moving average of $187.97. The stock has a market capitalization of $23.43 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.41 and a beta of 0.65.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CHKP. Truist Financial reiterated a “buy” rating and set a $250.00 price target (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday. JPMorgan Chase & Co. increased their price target on Check Point Software Technologies from $207.00 to $221.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler increased their price target on Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Evercore ISI lifted their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their target price on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a research note on Friday. Nineteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Check Point Software Technologies 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.