Hussman Strategic Advisors Inc. Trims Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Hussman Strategic Advisors Inc. cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 42.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,400 shares of the technology company’s stock after selling 6,300 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Check Point Software Technologies were worth $1,568,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. FSA Wealth Management LLC purchased a new position in Check Point Software Technologies during the third quarter valued at approximately $27,000. GAMMA Investing LLC lifted 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 valued at $32,000 after purchasing an additional 60 shares during the period. Golden State Wealth Management LLC acquired a new position in Check Point Software Technologies during the fourth quarter valued at $35,000. Strategic Financial Concepts LLC purchased a new position in Check Point Software Technologies in the fourth quarter valued at $35,000. Finally, Concord Wealth Partners purchased a new position in Check Point Software Technologies in the third quarter valued at $37,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $222.92 on Thursday. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $226.02. The firm’s 50 day simple moving average is $196.37 and its two-hundred day simple moving average is $191.24. The stock has a market capitalization of $24.52 billion, a P/E ratio of 29.84, a PEG ratio of 3.46 and a beta of 0.65.

Analyst Ratings Changes

CHKP has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Robert W. Baird dropped their target price on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their target price for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Jefferies Financial Group raised their target price on shares of Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Truist Financial restated a “buy” rating and issued a $250.00 target price (up 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $215.59.

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.