DnB Asset Management AS Sells 367,284 Shares of Check Point Software Technologies Ltd. $CHKP

Key Points

• DnB Asset Management AS has reduced its stake in Check Point Software Technologies by 24.1%, now holding approximately $263.38 million worth of shares.
• Check Point Software reported earnings of $2.37 per share for the latest quarter, surpassing analyst expectations of $2.36.
• The company currently holds a consensus rating of "Hold" from analysts, with an average price target of $227.58.

DnB Asset Management AS cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 24.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,155,587 shares of the technology company's stock after selling 367,284 shares during the period. Check Point Software Technologies makes up approximately 1.2% of DnB Asset Management AS's holdings, making the stock its 12th biggest position. DnB Asset Management AS owned 1.05% of Check Point Software Technologies worth $263,381,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Capital A Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth about $29,000. Horizon Investments LLC lifted its holdings in shares of Check Point Software Technologies by 116.4% during the 1st quarter. Horizon Investments LLC now owns 158 shares of the technology company's stock worth $36,000 after acquiring an additional 85 shares during the period. Cromwell Holdings LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter worth about $37,000. Abound Financial LLC bought a new position in shares of Check Point Software Technologies during the 1st quarter worth about $40,000. Finally, Menard Financial Group LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth about $41,000. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Trading Up 1.2%

Shares of Check Point Software Technologies stock traded up $2.32 during mid-day trading on Friday, reaching $193.09. 1,170,080 shares of the stock were exchanged, compared to its average volume of 742,507. The company has a market cap of $21.24 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60. The firm has a 50-day simple moving average of $202.83 and a 200 day simple moving average of $214.72. Check Point Software Technologies Ltd. has a fifty-two week low of $169.01 and a fifty-two week high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. The firm had revenue of $665.20 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $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. On average, research analysts predict that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stifel Nicolaus set a $200.00 price objective on shares of Check Point Software Technologies in a report on Wednesday, July 30th. Scotiabank reduced their price objective on shares of Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, July 31st. UBS Group reduced their price objective on shares of Check Point Software Technologies from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Barclays set a $215.00 price objective on shares of Check Point Software Technologies and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, Morgan Stanley reduced their price objective on shares of Check Point Software Technologies from $215.00 to $193.00 and set an "equal weight" rating for the company in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $227.58.

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.