Norges Bank Invests $428.82 Million in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Norges Bank purchased a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,296,839 shares of the technology company’s stock, valued at approximately $428,820,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHKP. Bank of Montreal Can raised its stake in shares of Check Point Software Technologies by 32.2% in the third quarter. Bank of Montreal Can now owns 85,639 shares of the technology company’s stock worth $16,532,000 after acquiring an additional 20,866 shares during the last quarter. Truist Financial Corp boosted its holdings in Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after acquiring an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after purchasing an additional 2,478 shares during the period. MML Investors Services LLC raised its holdings in Check Point Software Technologies by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock worth $19,957,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Hickory Asset Management Inc. acquired a new position in Check Point Software Technologies during the 4th quarter valued at about $476,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CHKP shares. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price objective (up from $220.00) on shares of Check Point Software Technologies in a research note on Friday, January 31st. StockNews.com lowered Check Point Software Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $220.00 to $260.00 in a report on Monday, March 3rd. Baird R W upgraded Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Finally, 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 research report on Thursday, February 27th. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and a consensus price target of $234.18.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $228.37 on Friday. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $234.36. The stock’s 50 day moving average price is $217.58 and its two-hundred day moving average price is $198.48. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.41 and a beta of 0.62.

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.