Schonfeld Strategic Advisors LLC Buys New Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Schonfeld Strategic Advisors LLC bought a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the fourth quarter, HoldingsChannel.com reports. The fund bought 2,300 shares of the technology company’s stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHKP. Norges Bank acquired a new position in Check Point Software Technologies in the fourth quarter valued at about $428,820,000. Causeway Capital Management LLC increased its stake in Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock valued at $360,257,000 after purchasing an additional 487,823 shares in the last quarter. First Trust Advisors LP increased its stake in Check Point Software Technologies by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock valued at $340,314,000 after purchasing an additional 269,925 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Check Point Software Technologies by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company’s stock worth $158,035,000 after acquiring an additional 27,267 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Check Point Software Technologies by 43.6% during the fourth quarter. Northern Trust Corp now owns 802,042 shares of the technology company’s stock worth $149,741,000 after acquiring an additional 243,658 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Trading Down 1.4%

Shares of Check Point Software Technologies stock opened at $217.59 on Monday. The firm has a market capitalization of $23.93 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The firm’s 50 day moving average is $220.18 and its 200 day moving average is $202.74. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. During the same period in the previous year, the firm posted $2.04 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CHKP. Barclays increased their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna increased their target price on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a report on Friday, January 31st. Compass Point set a $260.00 price target on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Stifel Nicolaus raised their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $220.00 to $260.00 in a research note on Monday, March 3rd. Eighteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus target price of $232.04.

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.