Grantham Mayo Van Otterloo & Co. LLC Sells 8,877 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Grantham Mayo Van Otterloo & Co. LLC cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,589 shares of the technology company’s stock after selling 8,877 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Check Point Software Technologies were worth $30,729,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth about $428,820,000. Clearbridge Investments LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at approximately $100,456,000. World Investment Advisors LLC purchased a new position in shares of Check Point Software Technologies during the third quarter worth approximately $51,922,000. Raymond James Financial Inc. purchased a new position in shares of Check Point Software Technologies during the fourth quarter worth approximately $38,558,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Check Point Software Technologies by 148.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 345,173 shares of the technology company’s stock valued at $64,444,000 after purchasing an additional 206,294 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CHKP shares. BMO Capital Markets upgraded shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $245.00 to $275.00 in a research report on Friday, March 28th. Scotiabank boosted their target price on Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Bank of America upgraded Check Point Software Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $230.00 to $260.00 in a research report on Thursday, March 27th. Citigroup boosted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Check Point Software Technologies in a report on Thursday, February 27th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.13.

Check Point Software Technologies Trading Down 3.8 %

CHKP opened at $215.52 on Friday. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. The stock has a fifty day simple moving average of $220.78 and a two-hundred day simple moving average of $199.70. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $234.36.

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.