14,635 Shares in Check Point Software Technologies Ltd. $CHKP Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in Check Point Software Technologies, buying 14,635 shares worth approximately $1.88 million in the third quarter.
• Check Point narrowly beat quarterly EPS estimates at $2.49, but revenue of $669.8 million missed expectations and fell 1.1% year over year. Analysts’ consensus rating is Hold, with an average price target of $151.32.
• Insider Nataly Kremer sold 3,185 shares for about $478,000 under a pre-arranged trading plan; institutional investors and hedge funds own 98.51% of the stock.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,635 shares of the technology company's stock, valued at approximately $1,878,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHKP. JNBA Financial Advisors lifted its stake in shares of Check Point Software Technologies by 90.0% during the second quarter. JNBA Financial Advisors now owns 190 shares of the technology company's stock valued at $25,000 after acquiring an additional 90 shares during the period. Ascentis Independent Advisors acquired a new stake in Check Point Software Technologies in the first quarter worth about $30,000. Elevation Wealth Partners LLC increased its position in Check Point Software Technologies by 42.7% in the second quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company's stock worth $33,000 after purchasing an additional 76 shares during the period. Western Wealth Management LLC bought a new stake in Check Point Software Technologies during the 1st quarter worth about $33,000. Finally, Oslo Pensjonsforsikring AS bought a new stake in Check Point Software Technologies during the 1st quarter worth about $36,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Check Point Software Technologies news, insider Nataly Kremer sold 3,185 shares of the 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 sale, the insider directly owned 19,347 shares in the company, valued at $2,903,597.76. This represents a 14.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.00% of the stock is owned by company insiders.

Check Point Software Technologies Price Performance

Shares of CHKP opened at $144.17 on Friday. The stock has a market cap of $14.72 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 4.16 and a beta of 0.43. Check Point Software Technologies Ltd. has a 1 year low of $112.23 and a 1 year high of $206.43. The stock's 50-day moving average price is $138.80 and its two-hundred day moving average price is $140.73. The company has a current ratio of 1.60, a quick ratio of 1.67 and a debt-to-equity ratio of 0.75.

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

Analyst Ratings Changes

A number of research analysts have issued reports on CHKP shares. Jefferies Financial Group reduced their target price on shares of Check Point Software Technologies from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, November 3rd. Scotiabank dropped their price target on shares of Check Point Software Technologies from $185.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Tuesday. The Goldman Sachs Group cut their price objective on shares of Check Point Software Technologies from $168.00 to $150.00 and set a "neutral" rating on the stock in a report on Saturday, August 1st. Royal Bank Of Canada raised their price objective on shares of Check Point Software Technologies from $135.00 to $140.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 3rd. Finally, TD Cowen reaffirmed a "buy" rating on shares of Check Point Software Technologies in a report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $151.32.

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.

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