Check Point Software Technologies Ltd. $CHKP Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 133,443 shares of the technology company’s stock after selling 24,006 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Check Point Software Technologies were worth $17,127,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. JNBA Financial Advisors increased its stake 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 acquiring an additional 90 shares during the period. Ascentis Independent Advisors acquired a new position in Check Point Software Technologies in the 1st quarter valued at $30,000. Elevation Wealth Partners LLC raised its holdings in Check Point Software Technologies by 42.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company’s stock valued at $33,000 after acquiring an additional 76 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Check Point Software Technologies during the 1st quarter valued at $33,000. Finally, Oslo Pensjonsforsikring AS bought a new stake in shares of Check Point Software Technologies during the 1st quarter valued at $36,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Transactions at Check Point Software Technologies

In other Check Point Software Technologies news, insider Nataly Kremer sold 3,185 shares of Check Point Software Technologies stock in a transaction dated 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 $2,903,597.76. The trade was a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by corporate insiders.

Check Point Software Technologies Stock Up 0.5%

Shares of CHKP opened at $148.18 on Friday. Check Point Software Technologies Ltd. has a one year low of $112.23 and a one year high of $206.43. The company has a market cap of $15.13 billion, a P/E ratio of 17.83, a P/E/G ratio of 4.22 and a beta of 0.43. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.67. The firm has a 50 day simple moving average of $138.58 and a two-hundred day simple moving average of $140.90.

Check Point Software Technologies (NASDAQ:CHKP) last posted 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 during the quarter, compared to analysts’ expectations of $672.06 million. During the same quarter in the previous year, the firm earned $3.94 EPS. Check Point Software Technologies’s revenue was down 1.1% on a year-over-year basis. Research analysts forecast that Check Point Software Technologies Ltd. will post 8.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CHKP shares. Morgan Stanley reduced their target price on Check Point Software Technologies from $133.00 to $131.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on Check Point Software Technologies from $167.00 to $155.00 and set a “neutral” rating for the company in a research note on Tuesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 price objective on shares of Check Point Software Technologies in a research report on Tuesday. Weiss Ratings raised shares of Check Point Software Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, Wedbush downgraded shares of Check Point Software Technologies from an “outperform” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research note on Thursday, September 10th. Ten equities research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $151.32.

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.