Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by abrdn plc

abrdn plc trimmed its position in Check Point Software Technologies Ltd. (NASDAQ:CHKPGet Rating) by 28.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,581 shares of the technology company’s stock after selling 3,013 shares during the quarter. abrdn plc’s holdings in Check Point Software Technologies were worth $1,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently 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 worth $33,000 after acquiring an additional 122 shares during the last quarter. Sageworth Trust Co of South Dakota acquired a new position in shares of Check Point Software Technologies in the 4th quarter worth approximately $49,000. West Bancorporation Inc. acquired a new position in shares of Check Point Software Technologies in the 1st quarter worth approximately $66,000. Ellevest Inc. lifted its holdings in shares of Check Point Software Technologies by 47.9% in the 1st quarter. Ellevest Inc. now owns 661 shares of the technology company’s stock worth $91,000 after acquiring an additional 214 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its holdings in shares of Check Point Software Technologies by 40.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the technology company’s stock worth $82,000 after acquiring an additional 200 shares during the last quarter. 91.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wedbush upped their price objective on shares of Check Point Software Technologies from $142.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, April 14th. Royal Bank of Canada raised their price objective on shares of Check Point Software Technologies from $139.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Monday, April 25th. BMO Capital Markets lowered their price objective on shares of Check Point Software Technologies from $155.00 to $150.00 and set a “maintains” rating on the stock in a research report on Tuesday. Credit Suisse Group raised their price objective on shares of Check Point Software Technologies from $105.00 to $115.00 in a research report on Thursday, April 28th. Finally, Bank of America upgraded shares of Check Point Software Technologies from an “underperform” rating to a “buy” rating and raised their target price for the stock from $130.00 to $140.00 in a research note on Wednesday, July 20th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $138.29.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $118.39 on Wednesday. The company has a 50-day simple moving average of $123.88 and a 200-day simple moving average of $129.44. The firm has a market capitalization of $14.85 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.75 and a beta of 0.60. Check Point Software Technologies Ltd. has a one year low of $107.85 and a one year high of $149.62.

Check Point Software Technologies (NASDAQ:CHKPGet Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.02. The business had revenue of $571.10 million during the quarter, compared to the consensus estimate of $560.40 million. Check Point Software Technologies had a net margin of 36.43% and a return on equity of 25.35%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. As a group, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 6.18 earnings per share for the current year.

About Check Point Software Technologies

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

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