Tritonpoint Wealth LLC Purchases New Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Tritonpoint Wealth LLC purchased a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 16,923 shares of the technology company’s stock, valued at approximately $2,586,000.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Check Point Software Technologies by 2.1% during the first quarter. BlackRock Inc. now owns 5,951,005 shares of the technology company’s stock valued at $773,631,000 after buying an additional 121,686 shares during the period. Acadian Asset Management LLC increased its position in Check Point Software Technologies by 1.6% during the 3rd quarter. Acadian Asset Management LLC now owns 4,348,630 shares of the technology company’s stock valued at $579,517,000 after purchasing an additional 69,441 shares during the period. Nordea Investment Management AB raised its holdings in Check Point Software Technologies by 0.3% in the 3rd quarter. Nordea Investment Management AB now owns 2,727,583 shares of the technology company’s stock worth $365,851,000 after purchasing an additional 7,493 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Check Point Software Technologies by 9.7% in the 4th quarter. Legal & General Group Plc now owns 2,236,028 shares of the technology company’s stock worth $282,097,000 after purchasing an additional 197,179 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Check Point Software Technologies by 138.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,505,958 shares of the technology company’s stock valued at $195,775,000 after purchasing an additional 875,580 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $164.39 on Friday. The business’s fifty day moving average is $162.34 and its 200 day moving average is $150.43. Check Point Software Technologies Ltd. has a fifty-two week low of $117.18 and a fifty-two week high of $168.82. The company has a market capitalization of $19.85 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, February 6th. The technology company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. The company had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $662.09 million. Check Point Software Technologies had a net margin of 34.80% and a return on equity of 30.81%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.23 EPS. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.85 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on CHKP shares. Royal Bank of Canada raised their target price on Check Point Software Technologies from $159.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company lifted their price target on shares of Check Point Software Technologies from $132.00 to $162.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. BMO Capital Markets upped their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Finally, Scotiabank lifted their target price on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $159.70.

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.