Allspring Global Investments Holdings LLC Sells 434,911 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 82.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,077 shares of the technology company’s stock after selling 434,911 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Check Point Software Technologies were worth $13,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of Check Point Software Technologies by 138.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,505,958 shares of the technology company’s stock worth $195,775,000 after acquiring an additional 875,580 shares in the last quarter. Norges Bank bought a new stake in Check Point Software Technologies during the fourth quarter worth approximately $80,456,000. Ariel Investments LLC grew its holdings in Check Point Software Technologies by 121.2% during the third quarter. Ariel Investments LLC now owns 1,083,364 shares of the technology company’s stock valued at $144,391,000 after purchasing an additional 593,623 shares during the last quarter. Morningstar Investment Services LLC bought a new position in shares of Check Point Software Technologies in the third quarter valued at approximately $65,522,000. Finally, LSV Asset Management lifted its stake in shares of Check Point Software Technologies by 1,535.7% in the third quarter. LSV Asset Management now owns 413,835 shares of the technology company’s stock worth $55,156,000 after buying an additional 388,535 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CHKP. Wedbush reiterated an “outperform” rating and issued a $185.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their price objective on Check Point Software Technologies from $132.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Truist Financial raised their target price on Check Point Software Technologies from $170.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. TD Cowen upped their price target on Check Point Software Technologies from $180.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, BMO Capital Markets raised their price objective on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $159.70.

Check Point Software Technologies Trading Down 2.5 %

CHKP stock opened at $157.63 on Tuesday. Check Point Software Technologies Ltd. has a 1-year low of $117.18 and a 1-year high of $168.82. The business’s 50 day moving average is $162.56 and its 200-day moving average is $151.69. The firm has a market cap of $19.04 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.62 and a beta of 0.61.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $662.09 million. Check Point Software Technologies had a return on equity of 30.81% and a net margin of 34.80%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 earnings per share. Sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.85 EPS for the current year.

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.