TRUE Private Wealth Advisors Decreases Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

TRUE Private Wealth Advisors reduced its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,939 shares of the technology company’s stock after selling 182 shares during the period. TRUE Private Wealth Advisors’ holdings in Check Point Software Technologies were worth $485,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Check Point Software Technologies in the second quarter worth $30,000. Concord Wealth Partners purchased a new position in Check Point Software Technologies during the 1st quarter worth $31,000. Richardson Financial Services Inc. purchased a new position in shares of Check Point Software Technologies during the fourth quarter worth about $33,000. Y.D. More Investments Ltd raised its stake in Check Point Software Technologies by 37.0% during the 4th quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock valued at $76,000 after acquiring an additional 135 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth approximately $92,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Check Point Software Technologies Stock Up 1.0 %

Shares of NASDAQ:CHKP traded up $1.77 during midday trading on Wednesday, reaching $184.03. The company’s stock had a trading volume of 284,446 shares, compared to its average volume of 709,723. Check Point Software Technologies Ltd. has a 1 year low of $126.57 and a 1 year high of $186.75. The business has a 50 day moving average price of $168.80 and a 200 day moving average price of $162.19. The firm has a market cap of $20.78 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. Check Point Software Technologies had a net margin of 33.61% and a return on equity of 31.59%. The company had revenue of $627.40 million for the quarter, compared to analyst estimates of $623.19 million. During the same quarter last year, the business earned $1.74 EPS. Check Point Software Technologies’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on CHKP shares. KeyCorp raised Check Point Software Technologies to a “hold” rating in a report on Tuesday, May 14th. Robert W. Baird increased their price target on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Barclays lifted their price target on shares of Check Point Software Technologies from $175.00 to $192.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Wedbush upped their price target on Check Point Software Technologies from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.68.

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.