Mirae Asset Global Investments Co. Ltd. Increases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Mirae Asset Global Investments Co. Ltd. boosted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 31.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 342,750 shares of the technology company’s stock after acquiring an additional 82,045 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.28% of Check Point Software Technologies worth $56,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CHKP. Norden Group LLC purchased a new position in shares of Check Point Software Technologies during the 1st quarter valued at about $200,000. Van ECK Associates Corp lifted its holdings in shares of Check Point Software Technologies by 8.9% in the 1st quarter. Van ECK Associates Corp now owns 49,708 shares of the technology company’s stock worth $8,152,000 after acquiring an additional 4,056 shares during the last quarter. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies in the 1st quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Check Point Software Technologies by 16.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,722 shares of the technology company’s stock valued at $282,000 after purchasing an additional 239 shares during the last quarter. Finally, M3 Advisory Group LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter valued at $249,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Check Point Software Technologies from $170.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Mizuho reaffirmed a “neutral” rating and set a $160.00 target price on shares of Check Point Software Technologies in a report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $185.00 target price on shares of Check Point Software Technologies in a report on Friday, April 26th. Finally, KeyCorp raised shares of Check Point Software Technologies to a “hold” rating in a report on Tuesday, May 14th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Check Point Software Technologies presently has an average rating of “Hold” and an average price target of $169.18.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded up $0.73 during trading hours on Friday, reaching $169.45. 798,576 shares of the company’s stock traded hands, compared to its average volume of 568,519. Check Point Software Technologies Ltd. has a 52-week low of $122.86 and a 52-week high of $170.69. The firm has a market cap of $19.13 billion, a PE ratio of 23.53, a PEG ratio of 2.66 and a beta of 0.62. The firm has a 50-day simple moving average of $155.25 and a 200 day simple moving average of $158.03.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results 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 company had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $595.28 million. Sell-side analysts forecast that Check Point Software Technologies Ltd. will post 7.79 EPS for the current fiscal 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.