Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stake Trimmed by Invesco Ltd.

Invesco Ltd. cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 19.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,378 shares of the technology company’s stock after selling 28,073 shares during the quarter. Invesco Ltd.’s holdings in Check Point Software Technologies were worth $21,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHKP. Nemes Rush Group LLC purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at approximately $25,000. GAMMA Investing LLC lifted its holdings in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter worth $35,000. Strategic Financial Concepts LLC purchased a new position in shares of Check Point Software Technologies during the fourth quarter valued at $35,000. Finally, Exchange Traded Concepts LLC raised 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 buying an additional 137 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Shares of CHKP opened at $214.96 on Friday. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $234.36. The firm has a market capitalization of $23.64 billion, a P/E ratio of 28.78, a P/E/G ratio of 3.41 and a beta of 0.62. The company has a 50-day simple moving average of $221.71 and a 200-day simple moving average of $201.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial restated a “buy” rating and set a $250.00 price objective (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Mizuho upped their price objective on shares of Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Arete Research upgraded shares of Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Susquehanna boosted their price target on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.50.

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.