KLP Kapitalforvaltning AS Acquires New Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

KLP Kapitalforvaltning AS bought a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 122,900 shares of the technology company’s stock, valued at approximately $22,945,000. KLP Kapitalforvaltning AS owned approximately 0.11% of Check Point Software Technologies as of its most recent SEC filing.

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

Check Point Software Technologies Stock Down 0.5 %

Check Point Software Technologies stock opened at $227.97 on Friday. The business has a 50 day moving average price of $213.13 and a two-hundred day moving average price of $197.13. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $232.37. The stock has a market cap of $25.07 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lifted their target price for the company from $204.00 to $207.00 in a research note on Thursday, January 2nd. Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. BMO Capital Markets raised their target price on Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Robert W. Baird raised Check Point Software Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $235.00 to $255.00 in a research note on Thursday, February 27th. Seventeen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $229.86.

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.