Franklin Resources Inc. Cuts Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Franklin Resources Inc. lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 81.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 304,180 shares of the technology company’s stock after selling 1,345,433 shares during the quarter. Franklin Resources Inc. owned about 0.26% of Check Point Software Technologies worth $46,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in Check Point Software Technologies by 52.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock worth $8,508,000 after purchasing an additional 19,111 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in Check Point Software Technologies in the fourth quarter worth about $1,505,000. Unique Wealth Strategies LLC purchased a new stake in Check Point Software Technologies in the fourth quarter worth about $1,005,000. Tritonpoint Wealth LLC purchased a new stake in shares of Check Point Software Technologies during the fourth quarter valued at approximately $2,586,000. Finally, Heritage Wealth Management LLC bought a new stake in shares of Check Point Software Technologies during the fourth quarter valued at approximately $904,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $154.42 on Friday. Check Point Software Technologies Ltd. has a 1 year low of $121.85 and a 1 year high of $168.82. The firm has a fifty day moving average price of $157.78 and a 200-day moving average price of $155.33. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.44 and a beta of 0.64.

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

Analyst Ratings Changes

Several brokerages recently weighed in on CHKP. BMO Capital Markets raised their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. William Blair raised shares of Check Point Software Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Susquehanna raised their price target on shares of Check Point Software Technologies from $190.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. Barclays raised their price target on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, 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 research report on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and an average target price of $169.18.

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.