Baader Bank Aktiengesellschaft Takes $456,000 Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• Baader Bank Aktiengesellschaft has acquired a new position in Check Point Software Technologies, purchasing 2,000 shares valued at approximately $456,000.
• Several hedge funds increased their stakes in Check Point, with Assenagon Asset Management raising its position by 184.4% during the first quarter.
• Analysts have mixed views on Check Point's stock, with target prices ranging from $215.00 to $260.00, and a consensus rating of "Moderate Buy".

Baader Bank Aktiengesellschaft bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the technology company's stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHKP. Larson Financial Group LLC increased its position in shares of Check Point Software Technologies by 23.2% in the first quarter. Larson Financial Group LLC now owns 260 shares of the technology company's stock valued at $59,000 after acquiring an additional 49 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Check Point Software Technologies by 1.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,095 shares of the technology company's stock valued at $578,000 after acquiring an additional 52 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Check Point Software Technologies by 19.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock valued at $77,000 after acquiring an additional 55 shares during the last quarter. 3Chopt Investment Partners LLC increased its position in shares of Check Point Software Technologies by 0.3% in the first quarter. 3Chopt Investment Partners LLC now owns 19,571 shares of the technology company's stock valued at $4,461,000 after acquiring an additional 56 shares during the last quarter. Finally, Cable Hill Partners LLC increased its position in shares of Check Point Software Technologies by 4.1% in the first quarter. Cable Hill Partners LLC now owns 1,563 shares of the technology company's stock valued at $343,000 after acquiring an additional 61 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CHKP has been the topic of several research reports. Scotiabank set a $220.00 target price on Check Point Software Technologies and gave the company a "sector outperform" rating in a research report on Thursday. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company decreased their target price on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday. Cantor Fitzgerald set a $220.00 target price on Check Point Software Technologies and gave the company a "neutral" rating in a research report on Thursday. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $250.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Check Point Software Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $228.08.

Check Point Software Technologies Trading Up 1.2%

NASDAQ CHKP traded up $2.30 on Monday, hitting $190.88. 580,404 shares of the company's stock were exchanged, compared to its average volume of 926,612. The stock has a 50-day moving average of $220.54 and a 200-day moving average of $218.36. Check Point Software Technologies Ltd. has a 52 week low of $169.01 and a 52 week high of $234.35. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.82 and a beta of 0.59.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The firm had revenue of $665.20 million during the quarter, compared to analysts' expectations of $663.10 million. During the same period in the prior year, the company earned $2.17 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

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.