Balentine LLC Increases Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Balentine LLC boosted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKPFree Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,839 shares of the technology company’s stock after acquiring an additional 269 shares during the period. Balentine LLC’s holdings in Check Point Software Technologies were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CNB Bank bought a new position in shares of Check Point Software Technologies during the third quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $30,000. Salem Investment Counselors Inc. grew its position in Check Point Software Technologies by 483.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 286 shares of the technology company’s stock worth $44,000 after purchasing an additional 237 shares during the last quarter. Allworth Financial LP boosted its position in Check Point Software Technologies by 305.5% in the third quarter. Allworth Financial LP now owns 369 shares of the technology company’s stock valued at $49,000 after buying an additional 278 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in Check Point Software Technologies during the third quarter valued at approximately $55,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

CHKP traded up $0.76 on Monday, hitting $151.89. The company had a trading volume of 204,129 shares, compared to its average volume of 713,971. The firm has a market capitalization of $17.15 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.45 and a beta of 0.64. The stock has a fifty day simple moving average of $158.95 and a 200-day simple moving average of $154.91. Check Point Software Technologies Ltd. has a 52-week low of $121.14 and a 52-week high of $168.82.

Check Point Software Technologies (NASDAQ:CHKPGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.72 earnings per share for the quarter, meeting the consensus estimate of $1.72. The business had revenue of $598.80 million for the quarter, compared to the consensus estimate of $595.28 million. Check Point Software Technologies had a net margin of 34.33% and a return on equity of 31.42%. Equities research analysts expect that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CHKP shares. Scotiabank increased their price target on shares of Check Point Software Technologies from $170.00 to $180.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 7th. TD Cowen raised their target price on shares of Check Point Software Technologies from $180.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Susquehanna raised their price target on Check Point Software Technologies from $190.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. Truist Financial raised their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus dropped their price target on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and an average price target of $169.18.

Read Our Latest Report on Check Point Software Technologies

About Check Point Software Technologies

(Free Report)

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.

Further Reading

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

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