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

PNC Financial Services Group Inc. cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,622 shares of the technology company’s stock after selling 602 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Check Point Software Technologies were worth $13,559,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in Check Point Software Technologies during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC lifted its position in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after buying an additional 60 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $35,000. Exchange Traded Concepts LLC increased its position in shares of Check Point Software Technologies by 142.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after acquiring an additional 137 shares in the last quarter. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Check Point Software Technologies by 370.6% in the 4th quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $45,000 after acquiring an additional 189 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 1.3 %

Shares of NASDAQ CHKP opened at $222.39 on Wednesday. The company has a market capitalization of $24.46 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a twelve month low of $145.75 and a twelve month high of $230.65. The business has a 50 day simple moving average of $206.28 and a 200-day simple moving average of $195.20.

Analysts Set New Price Targets

Several brokerages recently issued reports on CHKP. JPMorgan Chase & Co. upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Citigroup increased their target price on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Morgan Stanley boosted their price target on Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Susquehanna increased their price objective on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Seventeen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $224.86.

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.