Arrowstreet Capital Limited Partnership lowered its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 667,848 shares of the technology company's stock after selling 135,887 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.61% of Check Point Software Technologies worth $124,687,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in CHKP. Allianz SE acquired a new stake in shares of Check Point Software Technologies during the fourth quarter valued at about $736,000. Orion Portfolio Solutions LLC boosted its position in Check Point Software Technologies by 47.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 24,150 shares of the technology company's stock valued at $4,509,000 after purchasing an additional 7,822 shares during the period. Pictet Asset Management Holding SA increased its position in Check Point Software Technologies by 148.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 345,173 shares of the technology company's stock worth $64,444,000 after buying an additional 206,294 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth about $236,000. Finally, Norges Bank acquired a new position in Check Point Software Technologies during the 4th quarter valued at about $428,820,000. Hedge funds and other institutional investors own 98.51% of the company's stock.
Check Point Software Technologies Price Performance
Shares of NASDAQ CHKP traded down $8.50 during trading hours on Friday, hitting $215.52. 1,263,663 shares of the stock were exchanged, compared to its average volume of 744,356. The firm has a market capitalization of $23.70 billion, a P/E ratio of 28.85, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36. The company's 50 day moving average is $220.78 and its 200 day moving average is $199.64.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Stephens began coverage on Check Point Software Technologies in a research note on Tuesday. They issued an "equal weight" rating and a $255.00 price target for the company. JPMorgan Chase & Co. raised Check Point Software Technologies from a "neutral" rating to an "overweight" rating and increased their price target for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Baird R W raised shares of Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, BMO Capital Markets upgraded Check Point Software Technologies from a "market perform" rating to an "outperform" rating and increased their price target for the company from $245.00 to $275.00 in a research report on Friday, March 28th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $236.13.
Read Our Latest Analysis on CHKP
Check Point Software Technologies Profile
(
Free Report)
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.
Further Reading
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