Sanibel Captiva Trust Company Inc. Trims Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sanibel Captiva Trust Company Inc. cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,941 shares of the technology company's stock after selling 3,252 shares during the period. Sanibel Captiva Trust Company Inc. owned approximately 0.07% of Check Point Software Technologies worth $18,676,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in shares of Check Point Software Technologies during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the fourth quarter worth about $29,000. Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter worth approximately $35,000. Strategic Financial Concepts LLC bought a new stake in Check Point Software Technologies during the 4th quarter worth about $35,000. Finally, Quarry LP boosted its position in Check Point Software Technologies by 100.0% during the fourth quarter. Quarry LP now owns 206 shares of the technology company's stock valued at $38,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

Wall Street Analyst Weigh In

CHKP has been the subject of several research reports. Baird R W upgraded Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 27th. Wall Street Zen raised Check Point Software Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Morgan Stanley lowered their price objective on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Wedbush reiterated an "outperform" rating and set a $240.00 price target on shares of Check Point Software Technologies in a report on Thursday, April 24th. Sixteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $232.04.

Check Point Software Technologies Price Performance

Shares of Check Point Software Technologies stock traded down $4.02 during trading on Friday, hitting $218.93. 1,057,939 shares of the stock were exchanged, compared to its average volume of 786,150. Check Point Software Technologies Ltd. has a 12-month low of $153.88 and a 12-month high of $234.36. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The firm's 50-day moving average price is $219.86 and its 200 day moving average price is $210.21.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The firm had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. During the same quarter in the prior year, the firm earned $2.04 EPS. Check Point Software Technologies's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, 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.