Schonfeld Strategic Advisors LLC Makes New Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Schonfeld Strategic Advisors LLC acquired a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,300 shares of the technology company's stock, valued at approximately $429,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $428,820,000. Clearbridge Investments LLC acquired a new position in Check Point Software Technologies during the fourth quarter worth about $100,456,000. Causeway Capital Management LLC increased 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 buying an additional 487,823 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Check Point Software Technologies in the fourth quarter valued at about $73,186,000. Finally, First Trust Advisors LP lifted its position in shares of Check Point Software Technologies by 17.4% during 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 acquiring an additional 269,925 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CHKP shares. UBS Group boosted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. BMO Capital Markets restated an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Mizuho increased their price target on shares of 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. Jefferies Financial Group lifted their price objective on Check Point Software Technologies from $250.00 to $255.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Compass Point set a $260.00 price target on Check Point Software Technologies in a research report on Thursday, March 27th. Sixteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of "Hold" and a consensus price target of $232.04.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP traded up $0.92 during trading hours on Friday, hitting $217.02. The stock had a trading volume of 131,518 shares, compared to its average volume of 975,019. The stock's fifty day simple moving average is $219.48 and its 200 day simple moving average is $203.05. The firm has a market capitalization of $23.87 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company had revenue of $637.80 million for the quarter, compared to analysts' expectations of $635.80 million. During the same quarter in the previous year, the company posted $2.04 EPS. The business's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Check Point Software Technologies 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.