Franklin Resources Inc. Purchases 6,648 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Franklin Resources Inc. lifted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 4.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,289 shares of the technology company’s stock after buying an additional 6,648 shares during the quarter. Franklin Resources Inc.’s holdings in Check Point Software Technologies were worth $32,353,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after purchasing an additional 60 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth approximately $35,000. Strategic Financial Concepts LLC acquired a new stake in shares of Check Point Software Technologies in the fourth quarter valued at approximately $35,000. Exchange Traded Concepts LLC boosted its stake in shares of Check Point Software Technologies by 142.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock valued at $44,000 after buying an additional 137 shares during the period. Finally, Iron Horse Wealth Management LLC grew its position in Check Point Software Technologies by 370.6% during the fourth quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company’s stock worth $45,000 after buying an additional 189 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CHKP shares. Truist Financial reiterated a “buy” rating and set a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Bank of America raised shares of Check Point Software Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, March 27th. Baird R W raised shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Piper Sandler raised shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $220.00 to $260.00 in a report on Monday, March 3rd. Finally, Jefferies Financial Group lifted their price target on Check Point Software Technologies from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Sixteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.13.

Check Point Software Technologies Stock Down 3.8 %

Shares of NASDAQ CHKP opened at $215.52 on Friday. The company has a market capitalization of $23.70 billion, a PE ratio of 28.85, a P/E/G ratio of 3.41 and a beta of 0.62. The firm has a fifty day simple moving average of $220.78 and a 200 day simple moving average of $199.70. Check Point Software Technologies Ltd. has a twelve month low of $145.75 and a twelve month high of $234.36.

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.