Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,076 shares of the technology company’s stock after selling 1,973 shares during the period. Principal Financial Group Inc.’s holdings in Check Point Software Technologies were worth $5,428,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of Check Point Software Technologies by 32.2% in the 3rd quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock valued at $16,532,000 after acquiring an additional 20,866 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter worth about $1,599,000. MML Investors Services LLC boosted its position in Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares during the period. McHugh Group LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $241,000. Finally, Hickory Asset Management Inc. acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at $476,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CHKP. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. UBS Group upped their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays boosted their price target on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Susquehanna lifted their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Eighteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $224.86.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $221.09 on Tuesday. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $226.02. The business’s 50-day simple moving average is $202.03 and its 200-day simple moving average is $193.70. The firm has a market capitalization of $24.32 billion, a P/E ratio of 29.60, a P/E/G ratio of 3.41 and a beta of 0.65.

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.