Check Point Software Technologies Ltd. $CHKP Shares Newly Purchased by Leuthold Group LLC

Key Points

• Leuthold Group disclosed a new third-quarter position of 40,447 Check Point shares, valued at approximately $5.19 million. Institutional investors collectively own 98.51% of the stock.
• Check Point reported quarterly EPS of $2.49, slightly above estimates, while revenue of $669.8 million fell short of consensus and declined 1.1% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $151.32; an insider also sold 3,185 shares under a pre-arranged trading plan.

Leuthold Group LLC acquired a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,447 shares of the technology company's stock, valued at approximately $5,191,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JNBA Financial Advisors raised its position in shares of Check Point Software Technologies by 90.0% in the second quarter. JNBA Financial Advisors now owns 190 shares of the technology company's stock valued at $25,000 after purchasing an additional 90 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of Check Point Software Technologies during the 1st quarter valued at approximately $30,000. Elevation Wealth Partners LLC boosted its holdings in Check Point Software Technologies by 42.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 254 shares of the technology company's stock worth $33,000 after buying an additional 76 shares during the period. Western Wealth Management LLC bought a new position in Check Point Software Technologies in the 1st quarter worth approximately $33,000. Finally, Oslo Pensjonsforsikring AS bought a new position in Check Point Software Technologies in the 1st quarter worth approximately $36,000. Institutional investors own 98.51% of the company's stock.

Insider Buying and Selling

In related news, insider Nataly Kremer sold 3,185 shares of the stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $150.08, for a total value of $478,004.80. Following the transaction, the insider owned 19,347 shares of the company's stock, valued at $2,903,597.76. This represents a 14.14% decrease in their ownership of the stock. The transaction 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 currently owned by corporate insiders.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $143.96 on Tuesday. The firm has a market capitalization of $14.70 billion, a P/E ratio of 17.32, a P/E/G ratio of 4.22 and a beta of 0.43. The company has a quick ratio of 1.67, a current ratio of 1.60 and a debt-to-equity ratio of 0.75. The stock's 50-day simple moving average is $138.91 and its two-hundred day simple moving average is $140.58. Check Point Software Technologies Ltd. has a twelve month low of $112.23 and a twelve month high of $206.43.

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

Analysts Set New Price Targets

CHKP has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of Check Point Software Technologies from $135.00 to $140.00 and gave the company a "sector perform" rating in a report on Tuesday, November 3rd. The Goldman Sachs Group dropped their target price on Check Point Software Technologies from $168.00 to $150.00 and set a "neutral" rating on the stock in a research report on Saturday, August 1st. Compass Point set a $135.00 price target on Check Point Software Technologies in a report on Monday, July 27th. Roth Capital set a $105.00 price target on Check Point Software Technologies in a research report on Friday, July 31st. Finally, Wedbush lowered Check Point Software Technologies from an "outperform" rating to a "neutral" rating and set a $135.00 price objective on the stock. in a research note on Thursday, September 10th. Ten research analysts have rated the stock with a Buy rating and twenty have assigned a Hold 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 $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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