Renaissance Technologies LLC Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Renaissance Technologies LLC lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,900 shares of the technology company's stock after selling 14,800 shares during the period. Renaissance Technologies LLC's holdings in Check Point Software Technologies were worth $10,063,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Check Point Software Technologies by 180.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,433 shares of the technology company's stock valued at $2,590,000 after acquiring an additional 8,641 shares during the period. Barclays PLC increased its holdings in shares of Check Point Software Technologies by 6.0% in the third quarter. Barclays PLC now owns 80,432 shares of the technology company's stock valued at $15,507,000 after purchasing an additional 4,522 shares during the period. Anchor Investment Management LLC increased its holdings in shares of Check Point Software Technologies by 8.2% in the third quarter. Anchor Investment Management LLC now owns 5,985 shares of the technology company's stock valued at $1,154,000 after purchasing an additional 455 shares during the period. World Investment Advisors LLC purchased a new position in shares of Check Point Software Technologies in the third quarter worth about $5,546,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Check Point Software Technologies in the third quarter valued at approximately $187,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CHKP shares. Susquehanna lifted their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the company a "positive" rating in a research note on Friday, January 31st. Scotiabank boosted their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a "sector outperform" rating in a research report on Friday, January 31st. Mizuho increased their price target on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Baird R W raised Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 target price on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.50.

Check Point Software Technologies Trading Up 2.4 %

CHKP stock traded up $4.95 during midday trading on Tuesday, reaching $212.31. The stock had a trading volume of 1,460,574 shares, compared to its average volume of 771,612. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $234.36. The company has a market cap of $23.35 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The company's fifty day simple moving average is $221.35 and its 200 day simple moving average is $201.82.

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.