Natixis Advisors LLC Sells 13,583 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Natixis Advisors LLC cut its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,889 shares of the technology company's stock after selling 13,583 shares during the period. Natixis Advisors LLC's holdings in Check Point Software Technologies were worth $8,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Causeway Capital Management LLC increased its position in Check Point Software Technologies by 33.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after buying an additional 487,823 shares in the last quarter. First Trust Advisors LP increased its position in Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock valued at $340,314,000 after buying an additional 269,925 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Check Point Software Technologies by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,687,393 shares of the technology company's stock valued at $384,591,000 after buying an additional 46,713 shares in the last quarter. Ameriprise Financial Inc. increased its position in Check Point Software Technologies by 10.6% in the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock valued at $266,930,000 after buying an additional 136,699 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Check Point Software Technologies by 2,704.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after buying an additional 1,258,034 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHKP. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada decreased their target price on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating for the company in a research report on Thursday, July 31st. Jefferies Financial Group cut their price target on Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday. Barclays set a $215.00 price target on Check Point Software Technologies and gave the company an "equal weight" rating in a research note on Thursday. Finally, Morgan Stanley cut their price target on Check Point Software Technologies from $230.00 to $215.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Fifteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $228.08.

Check Point Software Technologies Price Performance

NASDAQ:CHKP opened at $192.76 on Tuesday. The company has a market cap of $21.20 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.82 and a beta of 0.59. The stock's fifty day moving average price is $219.84 and its two-hundred day moving average price is $218.40. Check Point Software Technologies Ltd. has a 1 year low of $169.01 and a 1 year high of $234.35.

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

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