Koch Industries Inc. raised its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 41,297.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,148,354 shares of the technology company’s stock after acquiring an additional 1,145,580 shares during the quarter. Check Point Software Technologies makes up approximately 0.3% of Koch Industries Inc.’s investment portfolio, making the stock its 27th largest position. Koch Industries Inc. owned 0.70% of Check Point Software Technologies worth $1,138,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CHKP. UBS Asset Management Americas Inc. increased its stake in shares of Check Point Software Technologies by 12.8% in the first quarter. UBS Asset Management Americas Inc. now owns 287,270 shares of the technology company’s stock valued at $29,491,000 after buying an additional 32,543 shares during the period. Oxford Asset Management acquired a new position in shares of Check Point Software Technologies in the first quarter valued at approximately $439,000. Victory Capital Management Inc. increased its stake in shares of Check Point Software Technologies by 921.0% in the first quarter. Victory Capital Management Inc. now owns 7,525 shares of the technology company’s stock valued at $772,000 after buying an additional 6,788 shares during the period. American International Group Inc. increased its stake in shares of Check Point Software Technologies by 8.6% in the first quarter. American International Group Inc. now owns 25,766 shares of the technology company’s stock valued at $2,645,000 after buying an additional 2,040 shares during the period. Finally, OppenheimerFunds Inc. acquired a new position in shares of Check Point Software Technologies in the first quarter valued at approximately $19,960,000. 67.83% of the stock is owned by hedge funds and other institutional investors.

Shares of Check Point Software Technologies Ltd. (CHKP) traded up 1.10% during mid-day trading on Friday, hitting $119.05. 394,196 shares of the stock traded hands. The firm’s 50-day moving average is $112.81 and its 200-day moving average is $109.26. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of 26.41 and a beta of 0.72. Check Point Software Technologies Ltd. has a 52 week low of $75.65 and a 52 week high of $119.20.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. Check Point Software Technologies had a net margin of 42.17% and a return on equity of 22.02%. The company had revenue of $458.60 million during the quarter, compared to the consensus estimate of $454.62 million. During the same period last year, the firm earned $1.09 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that Check Point Software Technologies Ltd. will post $5.18 earnings per share for the current year.

CHKP has been the subject of several recent research reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $128.00 price objective on shares of Check Point Software Technologies in a research note on Tuesday, August 15th. Argus reaffirmed a “buy” rating and issued a $124.00 price objective (up previously from $115.00) on shares of Check Point Software Technologies in a research note on Tuesday, July 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price objective (down previously from $117.00) on shares of Check Point Software Technologies in a research note on Friday, July 21st. Credit Suisse Group initiated coverage on Check Point Software Technologies in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, BidaskClub raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Seventeen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $111.56.

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Check Point Software Technologies Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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