Sumitomo Mitsui Trust Group Inc. Sells 13,602 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,459 shares of the technology company's stock after selling 13,602 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of Check Point Software Technologies worth $41,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth $29,000. Quarry LP grew its holdings in Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after buying an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth $41,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Check Point Software Technologies by 19.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock worth $77,000 after buying an additional 55 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CHKP shares. Compass Point set a $260.00 price target on Check Point Software Technologies in a report on Thursday, March 27th. Wells Fargo & Company cut their price objective on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Scotiabank cut their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets reissued an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $240.00 price objective on shares of Check Point Software Technologies in a research report on Thursday, April 24th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $232.44.

Check Point Software Technologies Trading Up 1.9%

Shares of Check Point Software Technologies stock traded up $4.19 on Friday, reaching $223.58. The stock had a trading volume of 304,434 shares, compared to its average volume of 785,871. Check Point Software Technologies Ltd. has a 1 year low of $167.54 and a 1 year high of $234.36. The company has a market cap of $24.59 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 3.20 and a beta of 0.64. The business's 50 day moving average is $221.75 and its two-hundred day moving average is $213.69.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The firm had revenue of $637.80 million for the quarter, compared to the consensus estimate of $635.80 million. During the same period in the prior year, the firm posted $2.04 earnings per share. The company's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal 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.