Check Point Software Technologies Ltd. $CHKP Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 47.3% in the third quarter, HoldingsChannel reports. The firm owned 7,451 shares of the technology company’s stock after selling 6,694 shares during the period. Oppenheimer & Co. Inc.’s holdings in Check Point Software Technologies were worth $956,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. JNBA Financial Advisors increased its holdings in Check Point Software Technologies by 90.0% during the 2nd quarter. JNBA Financial Advisors now owns 190 shares of the technology company’s stock worth $25,000 after purchasing an additional 90 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Check Point Software Technologies during the 1st quarter valued at approximately $30,000. Elevation Wealth Partners LLC grew its position in shares of Check Point Software Technologies by 42.7% during the second quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company’s stock worth $33,000 after buying an additional 76 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth approximately $33,000. Finally, Oslo Pensjonsforsikring AS acquired a new stake in shares of Check Point Software Technologies during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Trading Down 7.0%

Shares of CHKP stock opened at $141.50 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.67 and a current ratio of 1.67. Check Point Software Technologies Ltd. has a 1 year low of $112.23 and a 1 year high of $206.43. The stock has a fifty day moving average of $137.60 and a two-hundred day moving average of $141.52. The firm has a market capitalization of $14.45 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 4.44 and a beta of 0.48.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The business had revenue of $669.80 million during the quarter, compared to the consensus estimate of $672.06 million. Check Point Software Technologies had a net margin of 37.93% and a return on equity of 38.80%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.94 earnings per share. As a group, research analysts expect that Check Point Software Technologies Ltd. will post 8.45 EPS for the current year.

More Check Point Software Technologies News

Here are the key news stories impacting Check Point Software Technologies this week:

• Positive Sentiment: Check Point reported quarterly EPS of $2.49, narrowly ahead of the $2.48 consensus estimate. Management described the quarter as a potential trough and expects business conditions to improve gradually. Check Point Reports In-Line Q3 EPS
• Positive Sentiment: The company continues to produce strong profitability, including a reported 37.9% net margin and 38.8% return on equity. A $25 million research-and-development tax credit also lifted the operating margin during the quarter. Check Point Revenue Dips 1%, Calls a Trough

Insider Transactions at Check Point Software Technologies

In other news, insider Nataly Kremer sold 3,185 shares of Check Point Software Technologies stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $150.08, for a total transaction of $478,004.80. Following the transaction, the insider directly owned 19,347 shares in the company, valued at approximately $2,903,597.76. This trade represents a 14.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHKP. Raymond James Financial lowered shares of Check Point Software Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 15th. Barclays lowered their price objective on Check Point Software Technologies from $145.00 to $140.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Citigroup upped their price objective on Check Point Software Technologies from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Scotiabank upgraded Check Point Software Technologies from a “sector perform” rating to an “outperform” rating and set a $185.00 price objective on the stock in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. downgraded Check Point Software Technologies from an “overweight” rating to a “neutral” rating and set a $135.00 target price on the stock. in a report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $151.04.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.