Massachusetts Financial Services Co. MA Decreases Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,259,612 shares of the technology company's stock after selling 58,661 shares during the period. Massachusetts Financial Services Co. MA owned 4.78% of Check Point Software Technologies worth $981,970,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CHKP. Nemes Rush Group LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter valued at about $25,000. GAMMA Investing LLC lifted its position in shares of Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock worth $32,000 after purchasing an additional 60 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter valued at $35,000. Exchange Traded Concepts LLC increased its position in shares of Check Point Software Technologies by 142.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock worth $44,000 after buying an additional 137 shares during the period. Finally, Iron Horse Wealth Management LLC raised its stake in Check Point Software Technologies by 370.6% during the fourth quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company's stock worth $45,000 after buying an additional 189 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

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Wall Street Analysts Forecast Growth

CHKP has been the subject of several research analyst reports. Piper Sandler raised Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Compass Point set a $260.00 price target on Check Point Software Technologies in a report on Thursday, March 27th. Bank of America upgraded shares of Check Point Software Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $230.00 to $260.00 in a research note on Thursday, March 27th. Cantor Fitzgerald reissued a "neutral" rating and set a $200.00 target price on shares of Check Point Software Technologies in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. Sixteen investment 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, Check Point Software Technologies presently has an average rating of "Moderate Buy" and an average price target of $236.13.

Check Point Software Technologies Trading Down 3.8 %

Shares of NASDAQ:CHKP traded down $8.50 during midday trading on Friday, reaching $215.52. The company had a trading volume of 1,263,663 shares, compared to its average volume of 745,459. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36. The company's 50 day moving average price is $220.78 and its 200 day moving average price is $199.70. The stock has a market cap 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.

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.