American Money Management LLC Sells 2,528 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• American Money Management LLC sold 2,528 shares of Check Point Software Technologies, reducing its stake by 61% to 1,615 shares, valued at $368,000.
• Equities analysts have set various price targets for Check Point's stock, with a consensus rating of **"Moderate Buy"** and an average target price of **$228.08**.
• For the latest quarter, Check Point reported **$2.37 earnings per share**, surpassing estimates and showing a **6.0% revenue increase** year-over-year.

American Money Management LLC lessened its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 61.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,615 shares of the technology company's stock after selling 2,528 shares during the period. American Money Management LLC's holdings in Check Point Software Technologies were worth $368,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in Check Point Software Technologies during the 4th quarter worth about $29,000. Cromwell Holdings LLC bought a new position in Check Point Software Technologies during the 1st quarter worth about $37,000. Abound Financial LLC bought a new position in Check Point Software Technologies during the 1st quarter worth about $40,000. TruNorth Capital Management LLC bought a new position in Check Point Software Technologies during the 1st quarter worth about $45,000. Finally, Quarry LP increased its holdings in Check Point Software Technologies by 100.0% during the 4th quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CHKP shares. Cantor Fitzgerald set a $220.00 target price on Check Point Software Technologies and gave the stock a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company lowered their target price on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Wall Street Zen upgraded Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Stifel Nicolaus set a $200.00 price objective on Check Point Software Technologies in a report on Wednesday, July 30th. Finally, Jefferies Financial Group decreased their price objective on Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $228.08.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $188.12 on Thursday. Check Point Software Technologies Ltd. has a 52 week low of $169.01 and a 52 week high of $234.35. The stock has a market capitalization of $20.69 billion, a P/E ratio of 24.49, a PEG ratio of 2.72 and a beta of 0.59. The stock has a 50-day simple moving average of $213.86 and a 200 day simple moving average of $217.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%. The company had revenue of $665.20 million during the quarter, compared to analysts' expectations of $663.10 million. During the same quarter in the previous year, the company posted $2.17 earnings per share. The business's revenue was up 6.0% on a year-over-year basis. Research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Check Point Software Technologies Profile

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.

Want to see what other hedge funds are holding CHKP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.