Check Point Software Technologies Ltd. $CHKP Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 109.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,283 shares of the technology company’s stock after purchasing an additional 6,956 shares during the period. Gabelli Funds LLC’s holdings in Check Point Software Technologies were worth $1,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Check Point Software Technologies during the 1st quarter worth about $443,000. Inceptionr LLC acquired a new position in shares of Check Point Software Technologies in the first quarter worth about $416,000. Bowen Hanes & Co. Inc. boosted its holdings in shares of Check Point Software Technologies by 7.3% in the first quarter. Bowen Hanes & Co. Inc. now owns 5,850 shares of the technology company’s stock worth $836,000 after buying an additional 400 shares during the period. Mizuho Markets Americas LLC increased its position in shares of Check Point Software Technologies by 633.4% in the first quarter. Mizuho Markets Americas LLC now owns 158,900 shares of the technology company’s stock worth $22,699,000 after acquiring an additional 137,235 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Check Point Software Technologies by 45.9% in the first quarter. Systematic Financial Management LP now owns 33,907 shares of the technology company’s stock worth $4,844,000 after acquiring an additional 10,660 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Susquehanna reduced their price target on shares of Check Point Software Technologies from $255.00 to $140.00 and set a “positive” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada lowered their price objective on shares of Check Point Software Technologies from $157.00 to $135.00 and set a “sector perform” rating on the stock in a research report on Friday, May 1st. Wedbush cut their target price on shares of Check Point Software Technologies from $210.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and issued a $160.00 target price on shares of Check Point Software Technologies in a report on Friday, May 1st. Finally, Guggenheim raised Check Point Software Technologies from a “neutral” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Check Point Software Technologies presently has a consensus rating of “Hold” and an average target price of $151.81.

Insider Activity

In other news, Director Yoav Chelouche sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $140.28, for a total transaction of $3,507,000.00. Following the transaction, the director directly owned 4,008 shares in the company, valued at $562,242.24. The trade was a 86.18% decrease in their position. 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 owned by company insiders.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $139.67 on Thursday. 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 firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 4.07 and a beta of 0.49. The company has a 50 day simple moving average of $131.31 and a 200-day simple moving average of $145.81. Check Point Software Technologies Ltd. has a 52-week low of $112.23 and a 52-week high of $210.66.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. Check Point Software Technologies had a net margin of 38.37% and a return on equity of 38.79%. The firm had revenue of $668.40 million for the quarter, compared to the consensus estimate of $672.55 million. During the same period in the previous year, the firm posted $2.21 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Check Point Software Technologies Ltd. will post 8.44 earnings per share for the current fiscal year.

About Check Point Software Technologies

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).