KLP Kapitalforvaltning AS Acquires Shares of 122,900 Check Point Software Technologies Ltd. (NASDAQ:CHKP)

KLP Kapitalforvaltning AS acquired a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 122,900 shares of the technology company’s stock, valued at approximately $22,945,000.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Check Point Software Technologies by 73.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,094,887 shares of the technology company’s stock worth $211,105,000 after purchasing an additional 464,821 shares in the last quarter. World Investment Advisors LLC bought a new stake in Check Point Software Technologies during the third quarter worth about $51,922,000. FMR LLC increased its holdings in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after buying an additional 252,581 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $38,558,000. Finally, Boston Trust Walden Corp raised its stake in shares of Check Point Software Technologies by 26.9% in the fourth quarter. Boston Trust Walden Corp now owns 487,283 shares of the technology company’s stock valued at $90,976,000 after acquiring an additional 103,388 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHKP has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a report on Friday, January 31st. Mizuho raised their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Susquehanna upped their price target on shares of 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. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their price objective for the company from $204.00 to $207.00 in a research report on Thursday, January 2nd. Finally, Citigroup boosted their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Seventeen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $229.86.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $227.97 on Friday. Check Point Software Technologies Ltd. has a 52-week low of $145.75 and a 52-week high of $232.37. The stock has a market cap of $25.07 billion, a P/E ratio of 30.52, a P/E/G ratio of 3.41 and a beta of 0.62. The firm has a 50 day moving average price of $213.13 and a 200 day moving average price of $197.13.

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.