Charles Schwab Investment Management Inc. Sells 4,358 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Charles Schwab Investment Management Inc. cut its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,746 shares of the technology company’s stock after selling 4,358 shares during the period. Charles Schwab Investment Management Inc. owned about 0.11% of Check Point Software Technologies worth $23,667,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Kathleen S. Wright Associates Inc. acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at about $33,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies in the 3rd quarter worth $37,000. Arrow Financial Corp grew its stake in shares of Check Point Software Technologies by 62.5% in the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Check Point Software Technologies during the third quarter valued at about $60,000. Finally, Sound Income Strategies LLC lifted its position in shares of Check Point Software Technologies by 654.4% during the third quarter. Sound Income Strategies LLC now owns 430 shares of the technology company’s stock valued at $83,000 after purchasing an additional 373 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Trading Down 1.1 %

CHKP opened at $188.05 on Friday. Check Point Software Technologies Ltd. has a 12-month low of $143.28 and a 12-month high of $210.70. The stock has a fifty day simple moving average of $188.59 and a two-hundred day simple moving average of $179.03. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.25. The firm had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.80 earnings per share. On average, analysts predict that Check Point Software Technologies Ltd. will post 7.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays decreased their price target on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Robert W. Baird cut their price objective on shares of Check Point Software Technologies from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Truist Financial lifted their price target on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Needham & Company LLC restated a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Finally, BMO Capital Markets lifted their price objective on Check Point Software Technologies from $200.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies has a consensus rating of “Hold” and a consensus price target of $197.74.

About Check Point Software Technologies

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.