Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Acquired by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its stake in Check Point Software Technologies by 18.7%, acquiring an additional 1,647 shares, bringing its total holdings to 10,440 shares valued at approximately $2.38 million.
• Check Point Software's latest quarterly earnings report showed earnings per share of $2.21, surpassing consensus estimates, and revenue rose by 6.5% year-over-year to $637.80 million.
• Analysts have mixed outlooks on the stock, with a consensus rating of "Moderate Buy" and an average price target of $236.50, following various rating adjustments from different financial institutions.

ARK Investment Management LLC increased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 18.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,440 shares of the technology company's stock after buying an additional 1,647 shares during the quarter. ARK Investment Management LLC's holdings in Check Point Software Technologies were worth $2,379,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CHKP. Larson Financial Group LLC boosted its stake in Check Point Software Technologies by 23.2% in the 1st quarter. Larson Financial Group LLC now owns 260 shares of the technology company's stock worth $59,000 after purchasing an additional 49 shares during the period. TD Waterhouse Canada Inc. increased its stake in Check Point Software Technologies by 1.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company's stock valued at $578,000 after acquiring an additional 52 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Check Point Software Technologies by 19.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock valued at $77,000 after buying an additional 55 shares in the last quarter. 3Chopt Investment Partners LLC lifted its position in shares of Check Point Software Technologies by 0.3% during the first quarter. 3Chopt Investment Partners LLC now owns 19,571 shares of the technology company's stock worth $4,461,000 after purchasing an additional 56 shares in the last quarter. Finally, Cable Hill Partners LLC lifted its position in shares of Check Point Software Technologies by 4.1% during the first quarter. Cable Hill Partners LLC now owns 1,563 shares of the technology company's stock worth $343,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CHKP shares. Stephens lowered their price objective on shares of Check Point Software Technologies from $255.00 to $229.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Morgan Stanley reduced their target price on shares of Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company dropped their price target on shares of Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group boosted their price target on shares of Check Point Software Technologies from $255.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Scotiabank reduced their price target on shares of Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Fifteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.50.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP traded down $29.81 on Wednesday, hitting $188.52. The stock had a trading volume of 2,125,440 shares, compared to its average volume of 898,068. The firm's fifty day simple moving average is $222.78 and its two-hundred day simple moving average is $218.06. Check Point Software Technologies Ltd. has a 1 year low of $169.01 and a 1 year high of $234.35. The stock has a market cap of $20.73 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 3.12 and a beta of 0.64.

Check Point Software Technologies 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.