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

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,061 shares of the technology company’s stock after selling 2,212 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of Check Point Software Technologies worth $36,231,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CHKP. FSA Wealth Management LLC bought a new position in Check Point Software Technologies during the 3rd quarter worth $27,000. GAMMA Investing LLC grew its stake in Check Point Software Technologies by 53.1% during 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. Strategic Financial Concepts LLC bought a new position in Check Point Software Technologies during the 4th quarter worth $35,000. Concord Wealth Partners bought a new position in Check Point Software Technologies during the 3rd quarter worth $37,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of 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 purchasing an additional 137 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CHKP shares. Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. BMO Capital Markets increased their price target on Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Evercore ISI increased their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Nineteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $215.59.

Check Point Software Technologies Stock Up 1.6 %

Shares of NASDAQ CHKP opened at $218.52 on Wednesday. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $226.02. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 3.31 and a beta of 0.65. The business has a fifty day simple moving average of $192.48 and a 200-day simple moving average of $189.64.

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.