DnB Asset Management AS Reduces Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

DnB Asset Management AS lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,522,871 shares of the technology company’s stock after selling 251,187 shares during the quarter. Check Point Software Technologies makes up about 1.2% of DnB Asset Management AS’s holdings, making the stock its 10th largest position. DnB Asset Management AS’s holdings in Check Point Software Technologies were worth $284,320,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in Check Point Software Technologies in the third quarter worth $27,000. GAMMA Investing LLC grew its position in shares of Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the 4th quarter worth approximately $35,000. Exchange Traded Concepts LLC increased its position in Check Point Software Technologies by 142.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after buying an additional 137 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Check Point Software Technologies by 370.6% in the fourth quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $45,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CHKP shares. UBS Group boosted their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $221.00 to $255.00 in a report on Wednesday, February 26th. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $230.00 to $260.00 in a research report on Thursday. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Finally, Robert W. Baird raised shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and raised their price target for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and an average price target of $232.82.

Check Point Software Technologies Trading Up 1.5 %

Shares of CHKP opened at $231.31 on Friday. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $233.43. The firm’s 50-day moving average price is $216.77 and its 200-day moving average price is $198.20. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.41 and a beta of 0.62.

About Check Point Software Technologies

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.