Legal & General Group Plc lowered its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,263,941 shares of the technology company's stock after selling 265,105 shares during the period. Legal & General Group Plc owned about 1.15% of Check Point Software Technologies worth $235,978,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Check Point Software Technologies during the 4th quarter worth approximately $428,820,000. Clearbridge Investments LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter worth approximately $100,456,000. Raymond James Financial Inc. acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $38,558,000. Pictet Asset Management Holding SA raised its position in Check Point Software Technologies by 148.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 345,173 shares of the technology company's stock valued at $64,444,000 after purchasing an additional 206,294 shares during the last quarter. Finally, Sound Shore Management Inc. CT boosted its stake in Check Point Software Technologies by 42.3% during the 4th quarter. Sound Shore Management Inc. CT now owns 478,888 shares of the technology company's stock worth $89,408,000 after purchasing an additional 142,328 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $215.00 target price on shares of Check Point Software Technologies in a report on Thursday, February 27th. Susquehanna increased their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research report on Friday, January 31st. Cantor Fitzgerald reissued a "neutral" rating and issued a $200.00 target price on shares of Check Point Software Technologies in a report on Monday, January 27th. StockNews.com raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $221.00 to $255.00 in a research note on Wednesday, February 26th. Fifteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Check Point Software Technologies currently has an average rating of "Moderate Buy" and an average target price of $236.13.
View Our Latest Analysis on Check Point Software Technologies
Check Point Software Technologies Price Performance
NASDAQ:CHKP traded up $4.47 during trading hours on Monday, reaching $222.18. 172,250 shares of the company traded hands, compared to its average volume of 761,129. The firm's 50-day moving average is $221.43 and its 200-day moving average is $200.72. The stock has a market cap of $24.44 billion, a P/E ratio of 29.74, a P/E/G ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.36.
Check Point Software Technologies Profile
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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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