Prudential Financial Inc. Sells 21,643 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Prudential Financial Inc. lowered its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 82.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,559 shares of the technology company's stock after selling 21,643 shares during the period. Prudential Financial Inc.'s holdings in Check Point Software Technologies were worth $794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in 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 buying an additional 60 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $35,000. Strategic Financial Concepts LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $35,000. Exchange Traded Concepts LLC boosted its stake in shares of Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock valued at $44,000 after purchasing an additional 137 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Check Point Software Technologies by 370.6% during the 4th quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company's stock valued at $45,000 after purchasing an additional 189 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHKP. BMO Capital Markets raised Check Point Software Technologies from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $245.00 to $275.00 in a research note on Friday, March 28th. Scotiabank raised their price target on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a "sector outperform" rating in a research report on Friday, January 31st. UBS Group lifted their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Stifel Nicolaus increased their price objective on Check Point Software Technologies from $190.00 to $220.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Finally, Compass Point set a $260.00 price objective on Check Point Software Technologies in a report on Thursday, March 27th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $236.13.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded up $3.93 during mid-day trading on Friday, reaching $217.71. The stock had a trading volume of 938,492 shares, compared to its average volume of 763,309. The company has a fifty day moving average price of $221.43 and a 200 day moving average price of $200.68. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36. The stock has a market cap of $23.94 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Check Point Software Technologies Company 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.