Manufacturers’ Life Insurance Company cut its position in Check Point Software Technologies (NASDAQ:CHKP – Get Rating) by 2.0% in the third quarter, according to its latest 13F file with the SEC. The company owned 43,199 shares in technology companies after selling 900 of his shares during this period. Check Point Software Technologies’ assets held by Manufacturers’ Life Insurance Company were valued at $4,839,000 as of the latest SEC filing.
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Many other hedge funds and other institutional investors have also increased or decreased their stakes in CHKP. Nordea Investment Management AB raised his stake in Check Point Software Technologies by 31.9% in the third quarter. After acquiring a further 786,647 shares during this period, Nordea Investment Management AB now owns 3,256,416 shares in technology companies valued at $370,677,000. Clal Insurance Enterprises Holdings Ltd increased its stake in Check Point Software Technologies by 116.2% in the second quarter. Clal Insurance Enterprises Holdings Ltd owns 1,060,810 shares in the technology company valued at $129,185,000 after acquiring an additional 570,233 shares during this period. Allspring Global Investments Holdings LLC increased its stake in Check Point Software Technologies by 79.2% in the second quarter. Allspring Global Investments Holdings LLC owns 900,204 shares of the technology company valued at $19626,000 after acquiring an additional 397,986 shares during this period. Great West Life Assurance Co. Can purchased new shares of Check Point Software Technologies in the third quarter for approximately $35,461,000. Finally, Macquarie Group Ltd. increased his stake in Check Point Software Technologies by 1,077.7% in the second quarter. Macquarie Group Ltd. owns 346,050 shares in the technology company valued at $42,142,000 after acquiring an additional 316,667 shares during this period. Currently 64.76% of the shares are owned by institutional investors.
Wall Street Analyst Predicts Growth
A number of equity research analysts recently published reports on the company. Truist Financial lowered its price target for Check Point Software Technologies from $145.00 to $130.00 in its research notes on Monday, October 24, giving the stock a Buy rating. Sumitomo Mitsui Financial Group began covering Check Point Software Technology in a research report on Friday, October 7th. They set a “neutral” rating and a price target of $115.00. Guggenheim began covering Check Point Software Technology in a research report on Monday, January 23rd. They have set a “neutral” rating on the stock. Wells Fargo & Company upgraded Check Point Software Technologies from an “underweight” rating to an “equal weight” rating and set a price target of $130.00 in a research report on Tuesday, January 17. Finally, Robert W. Baird reiterated his “neutral” rating and set his $136.00 price target on Check Point Software Technologies stock in his Wednesday, October 19 research report. Three investment analysts issued sell ratings, 11 hold ratings, and 10 buy ratings on the company’s stock. Based on MarketBeat.com data, the stock currently has an average rating of Hold and an average target price of $138.64.
Check Point Software Technology Price/Performance
CHKP shares opened at $126.29 on Tuesday. The company has a market capitalization of $15.84 billion, a P/E ratio of 20.67, a P/E/G ratio of 2.54 and a beta of 0.68. The stock has a 50-day simple moving average of $129.32 and a 200-day simple moving average of $123.59. Check Point Software Technologies Ltd. has a one-year low of $107.54 and a one-year high of $149.62.
Check Point Software Technologies Company Overview
Check Point Software Technologies Ltd. is engaged in the development and marketing of software and hardware solutions for information technology security. Its products include Quantum, CloudGuard, Harmony, and Infinity-Vision. The company was founded by Gil Shwed, Marius Nacht and Shlomo Kramer in his July 1993 and is headquartered in Tel Aviv, Israel.
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