NewEdge Wealth LLC grew its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP – Free Report) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,872 shares of the technology company’s stock after purchasing an additional 4,534 shares during the quarter. NewEdge Wealth LLC’s holdings in Check Point Software Technologies were worth $4,981,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in Check Point Software Technologies in the third quarter worth $27,000. Abound Financial LLC bought a new stake in Check Point Software Technologies in the 4th quarter valued at $27,000. MV Capital Management Inc. acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at $28,000. Ascentis Independent Advisors acquired a new position in shares of Check Point Software Technologies in the 1st quarter valued at $30,000. Finally, Ossiam lifted its holdings in shares of Check Point Software Technologies by 139.1% during the 3rd quarter. Ossiam now owns 165 shares of the technology company’s stock worth $34,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.
Check Point Software Technologies Stock Performance
Shares of NASDAQ:CHKP opened at $126.01 on Friday. Check Point Software Technologies Ltd. has a fifty-two week low of $112.23 and a fifty-two week high of $224.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 3.78 and a beta of 0.49. The firm’s 50 day simple moving average is $130.61 and its 200 day simple moving average is $147.29.
Insider Transactions at Check Point Software Technologies
In other Check Point Software Technologies news, Director Yoav Chelouche sold 25,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $140.28, for a total value of $3,507,000.00. Following the completion of the transaction, the director directly owned 4,008 shares of the company’s stock, valued at approximately $562,242.24. The trade was a 86.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of Check Point Software Technologies from $190.00 to $125.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Truist Financial set a $150.00 price objective on Check Point Software Technologies in a research note on Thursday, April 30th. The Goldman Sachs Group set a $168.00 target price on Check Point Software Technologies in a report on Friday, May 1st. Raymond James Financial lowered Check Point Software Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 15th. Finally, UBS Group lowered their price target on Check Point Software Technologies from $170.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus target price of $150.52.
Read Our Latest Stock Analysis on CHKP
Check Point Software Technologies Company Profile
Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.
Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).
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