Los Angeles Capital Management LLC decreased its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP – Get Rating) by 89.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,083 shares of the technology company’s stock after selling 86,879 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Check Point Software Technologies were worth $1,394,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in Check Point Software Technologies by 11.7% in the first quarter. Nordea Investment Management AB now owns 3,303,458 shares of the technology company’s stock valued at $459,379,000 after purchasing an additional 345,565 shares during the period. Acadian Asset Management LLC increased its position in shares of Check Point Software Technologies by 7.1% during the fourth quarter. Acadian Asset Management LLC now owns 2,045,176 shares of the technology company’s stock worth $238,341,000 after acquiring an additional 136,035 shares during the period. Credit Suisse AG increased its position in shares of Check Point Software Technologies by 0.7% during the fourth quarter. Credit Suisse AG now owns 792,550 shares of the technology company’s stock worth $92,380,000 after acquiring an additional 5,285 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Check Point Software Technologies by 48.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 630,942 shares of the technology company’s stock worth $73,543,000 after acquiring an additional 205,681 shares during the period. Finally, Sprucegrove Investment Management Ltd. increased its position in shares of Check Point Software Technologies by 1.8% during the fourth quarter. Sprucegrove Investment Management Ltd. now owns 521,500 shares of the technology company’s stock worth $60,786,000 after acquiring an additional 9,100 shares during the period. Hedge funds and other institutional investors own 91.96% of the company’s stock.
Check Point Software Technologies Price Performance
NASDAQ CHKP opened at $122.50 on Thursday. Check Point Software Technologies Ltd. has a 1 year low of $107.85 and a 1 year high of $149.62. The company has a market capitalization of $15.36 billion, a PE ratio of 20.28, a P/E/G ratio of 2.58 and a beta of 0.60. The company has a fifty day moving average of $123.21 and a two-hundred day moving average of $129.18.
Check Point Software Technologies (NASDAQ:CHKP – Get Rating) last announced its earnings results on Monday, August 1st. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.02. Check Point Software Technologies had a net margin of 35.15% and a return on equity of 25.49%. The business had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $560.40 million. During the same period in the prior year, the company earned $1.41 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that Check Point Software Technologies Ltd. will post 6.29 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on CHKP. Bank of America raised Check Point Software Technologies from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $140.00 in a research report on Wednesday, July 20th. Barclays cut their price objective on Check Point Software Technologies from $145.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 2nd. Wells Fargo & Company cut their price objective on Check Point Software Technologies from $144.00 to $130.00 in a research report on Thursday, April 28th. Wedbush boosted their target price on shares of Check Point Software Technologies from $142.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, April 14th. Finally, Piper Sandler lowered their target price on shares of Check Point Software Technologies from $130.00 to $120.00 in a research note on Wednesday, July 13th. Six research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and an average price target of $138.00.
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 portfolio of network security, endpoint security, data security, and management solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th and 6th generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.
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