Check Point Software Technologies (NASDAQ:CHKP) Insider Sells $478,004.80 in Stock

Check Point Software Technologies Ltd. (NASDAQ:CHKP) insider Nataly Kremer sold 3,185 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $150.08, for a total value of $478,004.80. Following the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $155.22 on Thursday. The business has a fifty day moving average price of $136.53 and a two-hundred day moving average price of $142.13. The stock has a market capitalization of $15.85 billion, a PE ratio of 15.89, a P/E/G ratio of 4.55 and a beta of 0.48. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.67 and a quick ratio of 1.67. Check Point Software Technologies Ltd. has a fifty-two week low of $112.23 and a fifty-two week high of $206.43.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Thursday, July 30th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.10. Check Point Software Technologies had a return on equity of 38.80% and a net margin of 37.93%. The company had revenue of $673.60 million for the quarter, compared to analyst estimates of $675.45 million. During the same period in the prior year, the firm posted $2.37 EPS. Check Point Software Technologies’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Check Point Software Technologies Ltd. will post 8.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wedbush downgraded shares of Check Point Software Technologies from an “outperform” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research report on Thursday, September 10th. Raymond James Financial downgraded Check Point Software Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 15th. Scotiabank upgraded Check Point Software Technologies from a “sector perform” rating to an “outperform” rating and set a $185.00 price target on the stock in a research note on Monday, July 6th. TD Cowen reissued a “buy” rating on shares of Check Point Software Technologies in a report on Thursday, July 30th. Finally, Mizuho upped their price objective on Check Point Software Technologies from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $150.39.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its stake in shares of Check Point Software Technologies by 16.2% during the first quarter. Lazard Asset Management LLC now owns 809,115 shares of the technology company’s stock valued at $115,582,000 after acquiring an additional 112,713 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Check Point Software Technologies by 26.6% during the first quarter. Bank of America Corp DE now owns 808,428 shares of the technology company’s stock worth $115,484,000 after purchasing an additional 170,024 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Check Point Software Technologies by 3.2% in the first quarter. Pictet Asset Management Holding SA now owns 763,045 shares of the technology company’s stock worth $108,970,000 after purchasing an additional 23,569 shares during the last quarter. Sound Shore Management Inc. CT grew its stake in shares of Check Point Software Technologies by 22.1% in the first quarter. Sound Shore Management Inc. CT now owns 518,529 shares of the technology company’s stock worth $74,072,000 after purchasing an additional 93,945 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in Check Point Software Technologies in the second quarter valued at $72,445,000. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Company Profile

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.