Deutsche Bank AG Has $294.57 Million Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• Deutsche Bank AG has reduced its stake in Check Point Software Technologies by 30.4%, now owning approximately 1.18% of the company's stock, valued at around $294.57 million.
• Check Point Software Technologies reported earnings per share of $2.37 for the last quarter, exceeding analysts' expectations, with quarterly revenue up 6% year-over-year.
• Wall Street analysts have mixed views on Check Point, with a consensus price target of $228.08, highlighting various price objectives ranging from $210 to $250 across different firms.

Deutsche Bank AG trimmed its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 30.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,292,435 shares of the technology company's stock after selling 563,978 shares during the period. Deutsche Bank AG owned 1.18% of Check Point Software Technologies worth $294,572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth $29,000. Cromwell Holdings LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth $37,000. Quarry LP raised its holdings in shares of Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock worth $38,000 after purchasing an additional 103 shares during the period. Abound Financial LLC bought a new position in shares of Check Point Software Technologies during the first quarter worth about $40,000. Finally, Menard Financial Group LLC bought a new position in shares of Check Point Software Technologies during the fourth quarter worth about $41,000. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BMO Capital Markets restated an "outperform" rating and set a $250.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, April 23rd. Mizuho upped their price target 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. Jefferies Financial Group lowered their price target on shares of Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada lowered their price target on shares of Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating for the company in a research report on Thursday, July 31st. Finally, UBS Group lowered their price target on shares of Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.08.

Check Point Software Technologies Trading Down 0.9%

CHKP stock traded down $1.71 during midday trading on Friday, hitting $183.32. The stock had a trading volume of 747,768 shares, compared to its average volume of 1,168,867. The firm has a market capitalization of $20.16 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 2.76 and a beta of 0.59. 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 50-day simple moving average of $216.67 and a 200 day simple moving average of $218.07.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $665.20 million during the quarter, compared to analysts' expectations of $663.10 million. During the same period in the previous year, the business posted $2.17 earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS 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.