Woodline Partners LP Invests $15.16 Million in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Woodline Partners LP purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 81,217 shares of the technology company's stock, valued at approximately $15,163,000. Woodline Partners LP owned approximately 0.07% of Check Point Software Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nemes Rush Group LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth $25,000. Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth $35,000. Strategic Financial Concepts LLC bought a new stake in Check Point Software Technologies during the fourth quarter valued at about $35,000. Quarry LP boosted its position in Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after purchasing an additional 103 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Check Point Software Technologies by 142.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock valued at $44,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $220.95 on Thursday. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 3.41 and a beta of 0.66. The stock has a 50 day simple moving average of $219.47 and a 200-day simple moving average of $204.32. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping 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 business's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 EPS. Analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CHKP shares. Mizuho raised their price objective on Check Point Software Technologies from $220.00 to $230.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. BMO Capital Markets reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Robert W. Baird raised Check Point Software Technologies from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $235.00 to $255.00 in a report on Thursday, February 27th. Roth Capital began coverage on Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Sixteen 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 stock. According to data from MarketBeat.com, Check Point Software Technologies has a consensus rating of "Hold" and an average target price of $232.04.

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.

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