ARK Investment Management LLC Cuts Stock Holdings in Check Point Software Technologies Ltd. $CHKP

Key Points

• ARK Investment Management LLC has reduced its stake in Check Point Software Technologies by 26.6%, owning 7,663 shares valued at approximately $1.7 million after the sale.
• Check Point's stock has a market cap of $21.44 billion and is currently trading at around $194.90, reflecting a 0.9% decline.
• Analysts have mixed views on the stock, with target prices ranging from $200.00 to $220.00, indicating a consensus rating of "Hold."

ARK Investment Management LLC trimmed its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 26.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,663 shares of the technology company's stock after selling 2,777 shares during the period. ARK Investment Management LLC's holdings in Check Point Software Technologies were worth $1,695,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Fulton Bank N.A. lifted its position in Check Point Software Technologies by 3.2% during the second quarter. Fulton Bank N.A. now owns 1,493 shares of the technology company's stock valued at $330,000 after purchasing an additional 46 shares during the last quarter. Larson Financial Group LLC lifted its position in Check Point Software Technologies by 23.2% during the first quarter. Larson Financial Group LLC now owns 260 shares of the technology company's stock valued at $59,000 after purchasing an additional 49 shares during the last quarter. Sterling Investment Advisors Ltd. lifted its position in Check Point Software Technologies by 2.6% during the second quarter. Sterling Investment Advisors Ltd. now owns 1,970 shares of the technology company's stock valued at $436,000 after purchasing an additional 50 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in Check Point Software Technologies by 1.2% during the second quarter. Contravisory Investment Management Inc. now owns 4,693 shares of the technology company's stock valued at $1,038,000 after purchasing an additional 55 shares during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in Check Point Software Technologies by 5.2% during the second quarter. Aaron Wealth Advisors LLC now owns 1,105 shares of the technology company's stock valued at $244,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several analyst reports. Citigroup lowered their target price on shares of Check Point Software Technologies from $230.00 to $200.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Barclays raised their target price on shares of Check Point Software Technologies from $215.00 to $220.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 14th. Stifel Nicolaus set a $200.00 target price on shares of Check Point Software Technologies in a report on Wednesday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of Check Point Software Technologies from $257.00 to $251.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company reduced their price target on shares of Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $227.00.

Check Point Software Technologies Stock Down 0.9%

Shares of Check Point Software Technologies stock opened at $194.90 on Thursday. The firm's 50 day moving average price is $195.42 and its 200-day moving average price is $208.91. Check Point Software Technologies Ltd. has a 52-week low of $169.01 and a 52-week high of $234.35. The company has a market cap of $21.44 billion, a P/E ratio of 25.38, a PEG ratio of 2.96 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. Check Point Software Technologies had a net margin of 32.48% and a return on equity of 33.21%. The firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. During the same quarter in the previous year, the firm earned $2.17 EPS. The company's quarterly revenue was up 6.0% compared to the same quarter last year. Check Point Software Technologies has set its FY 2025 guidance at 9.600-10.200 EPS. Q3 2025 guidance at 2.400-2.500 EPS. As a group, equities research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

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.

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