AdvisorShares Investments LLC Buys New Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

AdvisorShares Investments LLC acquired a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,660 shares of the technology company’s stock, valued at approximately $497,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Check Point Software Technologies in the 4th quarter worth approximately $428,820,000. Clearbridge Investments LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter worth about $100,456,000. Causeway Capital Management LLC boosted its stake in shares of Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company’s stock worth $360,257,000 after acquiring an additional 487,823 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Check Point Software Technologies during the 4th quarter valued at about $73,186,000. Finally, First Trust Advisors LP raised its holdings in Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company’s stock worth $340,314,000 after purchasing an additional 269,925 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Stock Up 2.8 %

NASDAQ CHKP opened at $212.41 on Tuesday. 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 50 day moving average of $220.24 and a two-hundred day moving average of $201.98. The stock has a market capitalization of $23.36 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.19 by $0.02. The firm had revenue of $637.80 million for the quarter, compared to analyst estimates of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. Check Point Software Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.04 earnings per share. On average, equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Scotiabank decreased their target price on Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 24th. Piper Sandler raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $220.00 to $260.00 in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $221.00 to $255.00 in a research report on Wednesday, February 26th. Finally, Citigroup raised their target price on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Eighteen equities research 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. According to MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $232.04.

Check Point Software Technologies Company 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.