Beacon Pointe Advisors LLC Trims Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Beacon Pointe Advisors LLC reduced its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 91.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,348 shares of the technology company's stock after selling 34,382 shares during the period. Beacon Pointe Advisors LLC's holdings in Check Point Software Technologies were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CHKP. World Investment Advisors grew its position in Check Point Software Technologies by 4.4% during the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock valued at $5,609,000 after buying 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 $542,000. Truist Financial Corp raised its holdings 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 worth $22,311,000 after purchasing an additional 3,080 shares during the period. Vestmark Advisory Solutions Inc. lifted its position in Check Point Software Technologies by 99.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company's stock valued at $928,000 after purchasing an additional 2,478 shares in the last quarter. Finally, Hickory Asset Management Inc. bought a new stake in Check Point Software Technologies during the fourth quarter valued at about $476,000. Institutional investors own 98.51% of the company's stock.

Check Point Software Technologies Stock Down 1.5 %

Shares of CHKP stock traded down $3.35 on Friday, hitting $217.32. The company had a trading volume of 272,504 shares, compared to its average volume of 777,072. Check Point Software Technologies Ltd. has a twelve month low of $145.75 and a twelve month high of $234.36. The company has a 50-day moving average price of $220.25 and a 200-day moving average price of $202.70. The firm has a market cap of $23.90 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. The business had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share. Equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CHKP shares. Scotiabank cut their price objective on Check Point Software Technologies from $250.00 to $240.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Roth Capital began coverage on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $215.00 price objective on the stock. Truist Financial reiterated a "buy" rating and issued a $250.00 price target (up previously from $220.00) on shares of Check Point Software Technologies in a research note on Friday, January 31st. Arete Research upgraded Check Point Software Technologies to a "hold" rating in a research report on Monday, February 24th. Finally, Bank of America upgraded Check Point Software Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $230.00 to $260.00 in a research report on Thursday, March 27th. Eighteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies currently has an average rating of "Hold" and an average price target of $232.04.

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.