Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,411 shares of the technology company’s stock after selling 17,318 shares during the quarter. JPMorgan Chase & Co. owned about 0.14% of Check Point Software Technologies worth $29,001,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies during the third quarter valued at about $27,000. 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 purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter worth about $37,000. Arrow Financial Corp increased its position in Check Point Software Technologies by 62.5% during the 3rd quarter. Arrow Financial Corp now owns 260 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in Check Point Software Technologies in the third quarter valued at approximately $60,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of 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. Robert W. Baird decreased their price target 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. Barclays cut their price objective on Check Point Software Technologies from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Mizuho upped their target price on Check Point Software Technologies from $178.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets raised their target price on Check Point Software Technologies from $200.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $199.24.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $181.48 on Wednesday. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 3.21 and a beta of 0.63. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $210.70. The stock has a 50-day simple moving average of $182.25 and a 200 day simple moving average of $184.62.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts’ consensus estimates of $2.25. The company had revenue of $635.10 million for the quarter, compared to the consensus estimate of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. Check Point Software Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS. On average, equities research analysts forecast that Check Point Software Technologies Ltd. will post 7.87 EPS for the current fiscal year.

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.