Charles Schwab Investment Management Inc. Reduces Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Charles Schwab Investment Management Inc. reduced its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 17.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,931 shares of the technology company's stock after selling 20,815 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.09% of Check Point Software Technologies worth $19,031,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Check Point Software Technologies by 32.2% during the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company's stock valued at $16,532,000 after purchasing an additional 20,866 shares during the period. Truist Financial Corp boosted its stake in shares of Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company's stock valued at $22,311,000 after purchasing an additional 3,080 shares during the period. MML Investors Services LLC boosted its stake in shares of Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company's stock valued at $19,957,000 after purchasing an additional 3,655 shares during the period. Hickory Asset Management Inc. purchased a new stake in shares of Check Point Software Technologies during the fourth quarter valued at $476,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Check Point Software Technologies by 14.5% during the fourth quarter. CIBC Asset Management Inc now owns 9,589 shares of the technology company's stock valued at $1,790,000 after purchasing an additional 1,215 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

CHKP has been the subject of several recent research reports. Truist Financial restated a "buy" rating and issued a $250.00 price objective (up from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. The Goldman Sachs Group downgraded Check Point Software Technologies from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $204.00 to $207.00 in a report on Thursday, January 2nd. Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 price objective on shares of Check Point Software Technologies in a report on Thursday, February 27th. Susquehanna lifted their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the company a "positive" rating in a report on Friday, January 31st. Finally, BMO Capital Markets lifted their price objective on Check Point Software Technologies from $215.00 to $245.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Seventeen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $229.86.

Check Point Software Technologies Stock Down 0.5 %

Shares of CHKP traded down $1.17 during mid-day trading on Friday, hitting $227.97. 1,071,844 shares of the company traded hands, compared to its average volume of 711,429. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $232.37. The company has a market capitalization of $25.07 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The business has a 50 day moving average of $213.13 and a 200 day moving average of $197.13.

Check Point Software Technologies Company 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.