Norges Bank Invests $428.82 Million in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Norges Bank acquired a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,296,839 shares of the technology company's stock, valued at approximately $428,820,000. Norges Bank owned 2.09% of Check Point Software Technologies at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Gitterman Wealth Management LLC boosted its holdings in shares of Check Point Software Technologies by 3.2% in the fourth quarter. Gitterman Wealth Management LLC now owns 1,533 shares of the technology company's stock valued at $286,000 after purchasing an additional 48 shares during the period. Argonautica Private Wealth Management Inc. lifted its holdings in shares of Check Point Software Technologies by 0.9% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,002 shares of the technology company's stock worth $1,121,000 after buying an additional 56 shares during the period. Regatta Capital Group LLC grew its position in shares of Check Point Software Technologies by 4.9% during the 4th quarter. Regatta Capital Group LLC now owns 1,229 shares of the technology company's stock worth $229,000 after buying an additional 57 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Check Point Software Technologies by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,891 shares of the technology company's stock valued at $353,000 after buying an additional 57 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of research analysts have commented on CHKP shares. Baird R W raised shares of Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Morgan Stanley started coverage on Check Point Software Technologies in a research report on Tuesday, March 18th. They set an "equal weight" rating and a $235.00 target price on the stock. Guggenheim reissued a "neutral" rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Finally, UBS Group raised their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $235.09.

Check Point Software Technologies Stock Performance

NASDAQ CHKP traded down $2.20 on Wednesday, reaching $228.65. 238,006 shares of the company's stock traded hands, compared to its average volume of 950,308. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $234.35. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 3.41 and a beta of 0.62. The stock has a 50 day moving average price of $219.14 and a 200-day moving average price of $199.11.

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.