Te Ahumairangi Investment Management Ltd Reduces Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Te Ahumairangi Investment Management Ltd lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,233 shares of the technology company’s stock after selling 10,079 shares during the quarter. Check Point Software Technologies accounts for about 2.3% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 8th largest position. Te Ahumairangi Investment Management Ltd owned about 0.05% of Check Point Software Technologies worth $10,872,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CHKP. Norges Bank bought a new position in Check Point Software Technologies during the fourth quarter valued at about $428,820,000. Clearbridge Investments LLC bought a new stake in shares of Check Point Software Technologies during the fourth quarter valued at approximately $100,456,000. World Investment Advisors LLC acquired a new position in shares of Check Point Software Technologies in the third quarter valued at $51,922,000. FMR LLC lifted its position in Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after purchasing an additional 252,581 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Check Point Software Technologies during the fourth quarter worth $38,558,000. 98.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Robert W. Baird raised shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $255.00 in a report on Thursday, February 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Check Point Software Technologies in a report on Thursday, February 27th. Mizuho increased their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a report on Monday, January 27th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.09.

Check Point Software Technologies Trading Up 1.3 %

Shares of CHKP opened at $230.84 on Wednesday. The stock has a market cap of $25.39 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36. The stock’s 50-day moving average price is $219.14 and its two-hundred day moving average price is $199.11.

Check Point Software Technologies 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.