Tidal Investments LLC Sells 3,246 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Tidal Investments LLC cut its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,440 shares of the technology company's stock after selling 3,246 shares during the quarter. Tidal Investments LLC's holdings in Check Point Software Technologies were worth $6,990,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Check Point Software Technologies in the fourth quarter valued at $428,820,000. Causeway Capital Management LLC boosted its holdings 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 acquiring an additional 487,823 shares during the last quarter. First Trust Advisors LP boosted its holdings 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 acquiring an additional 269,925 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Check Point Software Technologies by 10.6% in the fourth quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock valued at $266,930,000 after acquiring an additional 136,699 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Check Point Software Technologies by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company's stock valued at $158,035,000 after acquiring an additional 27,267 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHKP has been the topic of several recent research reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $200.00 price target on shares of Check Point Software Technologies in a report on Monday, January 27th. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Check Point Software Technologies in a report on Thursday, February 27th. Jefferies Financial Group raised their target price on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wall Street Zen upgraded Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, Mizuho raised their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Sixteen investment 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. According to data from MarketBeat, Check Point Software Technologies presently has an average rating of "Hold" and an average price target of $232.04.

Check Point Software Technologies Price Performance

CHKP traded up $3.91 during trading on Thursday, hitting $224.86. The stock had a trading volume of 730,820 shares, compared to its average volume of 780,977. The company has a 50 day moving average price of $219.47 and a 200-day moving average price of $204.32. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released 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. The business had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 EPS. As a group, sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

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.