Handelsbanken Fonder AB Sells 404 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Handelsbanken Fonder AB lowered its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,018 shares of the technology company’s stock after selling 404 shares during the quarter. Handelsbanken Fonder AB’s holdings in Check Point Software Technologies were worth $3,364,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Check Point Software Technologies by 9.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,189 shares of the technology company’s stock worth $1,557,000 after acquiring an additional 911 shares during the last quarter. Signaturefd LLC grew its holdings in Check Point Software Technologies by 4.1% during the 4th quarter. Signaturefd LLC now owns 4,281 shares of the technology company’s stock worth $654,000 after acquiring an additional 170 shares during the last quarter. abrdn plc grew its holdings in Check Point Software Technologies by 93.6% during the 4th quarter. abrdn plc now owns 33,747 shares of the technology company’s stock worth $5,156,000 after acquiring an additional 16,313 shares during the last quarter. HF Advisory Group LLC bought a new stake in Check Point Software Technologies during the 4th quarter worth about $753,000. Finally, Daiwa Securities Group Inc. grew its holdings in Check Point Software Technologies by 1.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,438 shares of the technology company’s stock worth $1,289,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHKP. Stifel Nicolaus cut their target price on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a research report on Friday. Susquehanna upped their target price on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. TD Cowen upped their target price on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Citigroup upped their target price on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Mizuho restated a “neutral” rating and set a $160.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, March 27th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.00.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $151.20 on Friday. The company has a market capitalization of $18.26 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61. Check Point Software Technologies Ltd. has a 52 week low of $117.18 and a 52 week high of $168.82. The company’s 50 day moving average price is $161.41 and its two-hundred day moving average price is $152.89.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, hitting the consensus estimate of $1.72. The company had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. Analysts forecast that Check Point Software Technologies Ltd. will post 7.85 earnings per share for the current year.

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.