Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC reduced its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKPGet Rating) by 4.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,043 shares of the technology company’s stock after selling 1,935 shares during the quarter. Welch & Forbes LLC’s holdings in Check Point Software Technologies were worth $6,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc lifted its holdings in shares of Check Point Software Technologies by 107.0% in the 1st quarter. AdvisorNet Financial Inc now owns 236 shares of the technology company’s stock valued at $33,000 after buying an additional 122 shares during the period. Sageworth Trust Co of South Dakota purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $49,000. Spire Wealth Management increased its stake in Check Point Software Technologies by 85.3% in the 4th quarter. Spire Wealth Management now owns 428 shares of the technology company’s stock valued at $50,000 after purchasing an additional 197 shares in the last quarter. Ellevest Inc. purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $52,000. Finally, NuWave Investment Management LLC purchased a new position in Check Point Software Technologies in the 4th quarter valued at approximately $71,000. 91.96% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies stock opened at $123.12 on Wednesday. The firm has a market capitalization of $15.89 billion, a P/E ratio of 20.32, a PEG ratio of 2.74 and a beta of 0.62. The stock has a fifty day moving average price of $123.56 and a 200 day moving average price of $128.44. Check Point Software Technologies Ltd. has a 52 week low of $107.85 and a 52 week high of $149.62.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last released its earnings results on Wednesday, April 27th. The technology company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $542.70 million during the quarter, compared to analyst estimates of $535.57 million. Check Point Software Technologies had a net margin of 36.43% and a return on equity of 25.35%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. As a group, equities research analysts forecast that Check Point Software Technologies Ltd. will post 6.15 EPS for the current fiscal year.

Several equities analysts recently weighed in on CHKP shares. Piper Sandler downgraded Check Point Software Technologies from a “neutral” rating to an “underweight” rating and set a $130.00 price objective for the company. in a research note on Monday, March 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Check Point Software Technologies from $154.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 17th. Royal Bank of Canada raised their price objective on Check Point Software Technologies from $139.00 to $145.00 and gave the company a “sector perform” rating in a research note on Monday, April 25th. Barclays dropped their price target on Check Point Software Technologies from $160.00 to $145.00 in a research report on Thursday, April 28th. Finally, Wedbush raised their price target on Check Point Software Technologies from $142.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, April 14th. Six analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $139.25.

About Check Point Software Technologies (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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