AdvisorShares Investments LLC Invests $497,000 in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

AdvisorShares Investments LLC purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,660 shares of the technology company’s stock, valued at approximately $497,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors lifted its position in Check Point Software Technologies by 4.4% in the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock valued at $5,609,000 after purchasing an additional 1,278 shares during the period. Crux Wealth Advisors purchased a new stake in shares of Check Point Software Technologies in the 4th quarter worth about $542,000. Truist Financial Corp grew its stake in Check Point Software Technologies by 2.6% in the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock valued at $22,311,000 after acquiring an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in Check Point Software Technologies by 99.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock valued at $928,000 after acquiring an additional 2,478 shares in the last quarter. Finally, Hickory Asset Management Inc. acquired a new position in Check Point Software Technologies during the fourth quarter worth about $476,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Up 2.8 %

Shares of CHKP stock opened at $212.41 on Tuesday. The company has a market cap of $23.36 billion, a PE ratio of 28.44, a P/E/G ratio of 3.41 and a beta of 0.62. The company’s fifty day simple moving average is $220.24 and its 200-day simple moving average is $201.98. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.02. The business had revenue of $637.80 million during 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%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 earnings per share. Equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CHKP shares. Baird R W raised shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Check Point Software Technologies in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Roth Capital initiated coverage on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $215.00 target price for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $250.00 price target on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. Eighteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies has an average rating of “Hold” and an average price target of $232.04.

Check Point Software Technologies 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.