Nordea Investment Management AB Sells 67,759 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Nordea Investment Management AB trimmed its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,193,357 shares of the technology company's stock after selling 67,759 shares during the quarter. Nordea Investment Management AB owned 1.99% of Check Point Software Technologies worth $410,432,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CHKP. Bank of Montreal Can grew its position in 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 buying an additional 20,866 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Check Point Software Technologies during the 3rd quarter valued at $1,599,000. MML Investors Services LLC increased its holdings in Check Point Software Technologies by 3.7% in the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company's stock worth $19,957,000 after acquiring an additional 3,655 shares during the last quarter. Martin Investment Management LLC boosted its position in shares of Check Point Software Technologies by 2.0% in the third quarter. Martin Investment Management LLC now owns 163,357 shares of the technology company's stock valued at $31,497,000 after acquiring an additional 3,225 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its holdings in Check Point Software Technologies by 69.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 23,351 shares of the technology company's stock worth $4,502,000 after acquiring an additional 9,580 shares during the period. 98.51% of the stock is currently owned by institutional investors.

Check Point Software Technologies Stock Down 0.8 %

Shares of NASDAQ:CHKP traded down $1.52 during midday trading on Monday, reaching $179.88. The company's stock had a trading volume of 1,129,129 shares, compared to its average volume of 790,310. The firm has a 50 day moving average of $182.74 and a 200-day moving average of $184.31. The firm has a market capitalization of $19.78 billion, a P/E ratio of 24.57, a PEG ratio of 3.21 and a beta of 0.63. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts' consensus estimates of $2.25. The business had revenue of $635.10 million during the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 earnings per share. On average, research analysts predict that Check Point Software Technologies Ltd. will post 7.87 EPS for the current year.

Wall Street Analyst Weigh In

CHKP has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Mizuho raised their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their price objective on Check Point Software Technologies from $220.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Finally, Bank of America downgraded shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Seventeen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $199.24.

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.