Mirae Asset Global Investments Co. Ltd. Acquires 14,635 Shares of Check Point Software Technologies Ltd. $CHKP

Mirae Asset Global Investments Co. Ltd. bought a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,635 shares of the technology company’s stock, valued at approximately $1,878,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings 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 worth $115,582,000 after buying an additional 112,713 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Check Point Software Technologies by 26.6% in the first quarter. Bank of America Corp DE now owns 808,428 shares of the technology company’s stock valued at $115,484,000 after purchasing an additional 170,024 shares during the last quarter. Sound Shore Management Inc. CT lifted its position 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 in the last quarter. Junto Capital Management LP bought a new stake in shares of Check Point Software Technologies in the second quarter worth $72,445,000. Finally, Amundi lifted its position in shares of Check Point Software Technologies by 44.1% in the first quarter. Amundi now owns 320,155 shares of the technology company’s stock worth $45,734,000 after purchasing an additional 97,975 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup increased their target price on shares of Check Point Software Technologies from $130.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 3rd. Robert W. Baird lowered their price target on shares of Check Point Software Technologies from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 3rd. Yorkville Ives assumed coverage on shares of Check Point Software Technologies in a research note on Wednesday, October 7th. They set an “outperform” rating and a $150.00 price objective for the company. Scotiabank decreased their price objective on Check Point Software Technologies from $185.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday. Finally, Mizuho upped their target price on Check Point Software Technologies from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $151.32.

Check Point Software Technologies Stock Performance

NASDAQ CHKP opened at $144.17 on Friday. The stock has a market cap of $14.72 billion, a PE ratio of 17.35, a P/E/G ratio of 4.16 and a beta of 0.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.67 and a current ratio of 1.60. The firm has a 50-day moving average of $138.80 and a 200-day moving average of $140.73. Check Point Software Technologies Ltd. has a 52-week low of $112.23 and a 52-week high of $206.43.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Monday, November 2nd. The technology company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. Check Point Software Technologies had a net margin of 31.74% and a return on equity of 34.08%. The firm had revenue of $669.80 million for the quarter, compared to analysts’ expectations of $672.06 million. During the same period in the prior year, the firm earned $3.94 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 8.37 EPS for the current year.

Insider Buying and Selling

In related news, insider Nataly Kremer sold 3,185 shares of the business’s 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 completion of the transaction, the insider owned 19,347 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by company insiders.

Check Point Software Technologies Company Profile

Check Point Software Technologies is a cybersecurity company that develops products and services to protect organizations’ networks, cloud environments, devices, and users. Its offerings include network security appliances and software, cloud security tools, endpoint and workspace protection, and centralized security management.

The company’s product families include Quantum for network security, CloudGuard for cloud security, and Harmony for user and endpoint protection. Check Point also provides threat prevention, security research, and related support services to businesses and other organizations around the world.

Founded in 1993, Check Point is headquartered in Tel Aviv, Israel, and serves customers internationally.