NewEdge Advisors LLC Sells 3,182 Shares of Check Point Software Technologies Ltd. $CHKP

Key Points

• NewEdge Advisors LLC reduced its stake in Check Point Software Technologies by 17.6%, now holding 14,932 shares valued at approximately $3.4 million.
• Check Point Software Technologies reported $2.37 earnings per share for the last quarter, exceeding estimates, and had a revenue increase of 6% year-over-year.
• Various research analysts have given Check Point Software Technologies mixed ratings, with target prices ranging from $200 to $220, and an average rating of "Hold."

NewEdge Advisors LLC reduced its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 17.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,932 shares of the technology company's stock after selling 3,182 shares during the period. NewEdge Advisors LLC's holdings in Check Point Software Technologies were worth $3,403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of Check Point Software Technologies by 184.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company's stock valued at $13,149,000 after purchasing an additional 37,407 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Check Point Software Technologies in the 1st quarter valued at approximately $301,000. QRG Capital Management Inc. boosted its stake in shares of Check Point Software Technologies by 19.1% in the 1st quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company's stock valued at $557,000 after purchasing an additional 391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Check Point Software Technologies by 15.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company's stock valued at $899,000 after purchasing an additional 541 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in Check Point Software Technologies by 5.6% during the 1st quarter. Penserra Capital Management LLC now owns 393,212 shares of the technology company's stock worth $89,620,000 after buying an additional 20,812 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Cantor Fitzgerald set a $220.00 target price on shares of Check Point Software Technologies and gave the stock a "neutral" rating in a research report on Thursday, July 31st. UBS Group cut their target price on shares of Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company cut their target price on shares of Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Scotiabank cut their target price on shares of Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Mizuho lifted their target price on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $227.58.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded down $1.35 during midday trading on Friday, reaching $195.19. The stock had a trading volume of 519,751 shares, compared to its average volume of 664,860. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.60. Check Point Software Technologies Ltd. has a twelve month low of $169.01 and a twelve month high of $234.35. The company's 50 day moving average price is $200.81 and its 200 day moving average price is $214.16.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a net margin of 32.48% and a return on equity of 33.21%. The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.17 EPS. Check Point Software Technologies has set its FY 2025 guidance at 9.600-10.200 EPS. Q3 2025 guidance at 2.400-2.500 EPS. Equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal year.

Check Point Software Technologies Company 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.