MetLife Investment Management LLC Sells 100 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

MetLife Investment Management LLC lowered its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,800 shares of the technology company’s stock after selling 100 shares during the quarter. MetLife Investment Management LLC’s holdings in Check Point Software Technologies were worth $1,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in shares of Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after purchasing an additional 391,983 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at $47,244,000. FMR LLC raised its position in shares of Check Point Software Technologies by 28.7% during the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock worth $218,488,000 after acquiring an additional 252,581 shares during the last quarter. Meitav Investment House Ltd. lifted its stake in shares of Check Point Software Technologies by 1,295.8% during the second quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company’s stock valued at $34,557,000 after acquiring an additional 194,595 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHKP shares. Mizuho upped their target price on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays cut their price objective on shares of Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Truist Financial increased their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $197.74.

Check Point Software Technologies Stock Performance

CHKP opened at $188.05 on Friday. The business’s 50-day simple moving average is $188.59 and its 200 day simple moving average is $179.03. Check Point Software Technologies Ltd. has a 52-week low of $143.28 and a 52-week high of $210.70. The firm has a market capitalization of $20.68 billion, a PE ratio of 25.69, a PEG ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.25. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company had revenue of $635.10 million for the quarter, compared to analysts’ expectations of $634.96 million. During the same quarter in the prior year, the business posted $1.80 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current year.

About Check Point Software Technologies

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.