24,900 Check Point Software Technologies Ltd. $CHKP Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 171,037 shares of the technology company’s stock after selling 24,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Check Point Software Technologies were worth $21,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Lazard Asset Management LLC boosted its position in shares of Check Point Software Technologies by 16.2% during the 1st 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 increased its position in 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 last quarter. Sound Shore Management Inc. CT boosted its holdings in Check Point Software Technologies by 22.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 518,529 shares of the technology company’s stock valued at $74,072,000 after purchasing an additional 93,945 shares during the last quarter. Junto Capital Management LP acquired a new position in Check Point Software Technologies in the 2nd quarter valued at about $72,445,000. Finally, Swedbank AB boosted its holdings in Check Point Software Technologies by 1.0% in the 1st quarter. Swedbank AB now owns 458,650 shares of the technology company’s stock valued at $65,518,000 after purchasing an additional 4,490 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Compass Point set a $135.00 price target on shares of Check Point Software Technologies in a research note on Monday, July 27th. Citigroup lifted their price target on shares of Check Point Software Technologies from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Wells Fargo & Company decreased their price objective on Check Point Software Technologies from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Yorkville Ives began coverage on Check Point Software Technologies in a research report on Wednesday, October 7th. They issued an “outperform” rating and a $150.00 price objective for the company. Finally, TD Cowen reiterated a “buy” rating on shares of Check Point Software Technologies in a research report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $150.39.

Check Point Software Technologies Stock Down 0.9%

Shares of CHKP opened at $152.11 on Friday. The company’s 50-day moving average price is $137.39 and its 200 day moving average price is $141.75. Check Point Software Technologies Ltd. has a 12-month low of $112.23 and a 12-month high of $206.43. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.72. The firm has a market cap of $15.53 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 4.35 and a beta of 0.48.

Check Point Software Technologies (NASDAQ:CHKP) last announced its earnings results on Thursday, July 30th. The technology company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.10. Check Point Software Technologies had a net margin of 37.93% and a return on equity of 38.80%. The company had revenue of $673.60 million during the quarter, compared to analyst estimates of $675.45 million. During the same quarter last year, the firm posted $2.37 earnings per share. Check Point Software Technologies’s revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Check Point Software Technologies Ltd. will post 8.45 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Nataly Kremer sold 3,185 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total value of $478,004.80. Following the sale, the insider directly owned 19,347 shares of the company’s stock, valued at approximately $2,903,597.76. The trade was a 14.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Sherif Seddik sold 10,272 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $123.59, for a total transaction of $1,269,516.48. Following the completion of the transaction, the executive owned 24,675 shares in the company, valued at approximately $3,049,583.25. This represents a 29.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is currently owned by insiders.

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.