Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,061 shares of the technology company’s stock after selling 2,212 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Check Point Software Technologies were worth $36,231,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CHKP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 acquired a new position in shares of Check Point Software Technologies during the 3rd quarter valued at about $51,922,000. FMR LLC increased its holdings in shares of Check Point Software Technologies by 28.7% during the 3rd quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after acquiring an additional 252,581 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Check Point Software Technologies by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of Check Point Software Technologies by 26.9% during the 4th 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 hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

Check Point Software Technologies stock opened at $218.52 on Wednesday. The company has a market capitalization of $24.03 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 3.31 and a beta of 0.65. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $226.02. The business has a 50 day simple moving average of $192.48 and a 200 day simple moving average of $189.64.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHKP shares. Susquehanna increased their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a report on Friday, January 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 target price on shares of Check Point Software Technologies in a report on Monday, January 27th. Mizuho raised their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Finally, The Goldman Sachs Group lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their target price for the company from $204.00 to $207.00 in a report on Thursday, January 2nd. Nineteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $215.59.

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.