70,000 Check Point Software Technologies Ltd. $CHKP Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the technology company’s stock after selling 70,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned 0.07% of Check Point Software Technologies worth $8,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Junto Capital Management LP bought a new stake in Check Point Software Technologies in the second quarter valued at approximately $72,445,000. Renaissance Technologies LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $34,171,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Check Point Software Technologies during the 2nd quarter worth approximately $25,752,000. Bank of America Corp DE increased its holdings in shares of Check Point Software Technologies by 26.6% during the 1st quarter. Bank of America Corp DE now owns 808,428 shares of the technology company’s stock worth $115,484,000 after acquiring an additional 170,024 shares during the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in Check Point Software Technologies by 633.4% in the 1st quarter. Mizuho Markets Americas LLC now owns 158,900 shares of the technology company’s stock valued at $22,699,000 after acquiring an additional 137,235 shares during the period. 98.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Check Point Software Technologies news, insider Nataly Kremer sold 3,185 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total transaction of $478,004.80. Following the sale, the insider directly owned 19,347 shares in the company, valued at $2,903,597.76. This represents a 14.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by corporate insiders.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded down $0.31 during midday trading on Friday, hitting $147.18. The company had a trading volume of 731,738 shares, compared to its average volume of 1,630,291. The firm has a 50-day moving average price of $139.74 and a 200-day moving average price of $139.87. The company has a market capitalization of $15.03 billion, a PE ratio of 17.71, a P/E/G ratio of 4.26 and a beta of 0.43. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.75. Check Point Software Technologies Ltd. has a twelve month low of $112.23 and a twelve month high of $200.20.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Monday, November 2nd. The technology company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Check Point Software Technologies had a return on equity of 34.08% and a net margin of 31.74%. The company had revenue of $669.80 million for the quarter, compared to analysts’ expectations of $672.06 million. During the same quarter last year, the business earned $3.94 earnings per share. Check Point Software Technologies’s revenue was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Check Point Software Technologies Ltd. will post 8.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BTIG Research reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research report on Tuesday, November 3rd. Compass Point set a $135.00 price target on shares of Check Point Software Technologies in a research note on Monday, July 27th. Barclays increased their price target on shares of Check Point Software Technologies from $140.00 to $155.00 and gave the company an “equal weight” rating in a report on Tuesday, November 3rd. Wells Fargo & Company raised their price objective on shares of Check Point Software Technologies from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 3rd. Finally, Stifel Nicolaus set a $148.00 price objective on Check Point Software Technologies in a report on Monday, November 2nd. Ten analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $151.32.

Check Point Software Technologies Profile

Check Point Software Technologies is a cybersecurity company that develops products and services to protect organizations’ networks, cloud environments, devices, and users. Its offerings include network security appliances and software, cloud security tools, endpoint and workspace protection, and centralized security management. The company’s product families include Quantum for network security, CloudGuard for cloud security, and Harmony for user and endpoint protection. Check Point also provides threat prevention, security research, and related support services to businesses and other organizations around the world.