Stonegate Investment Group LLC Acquires Shares of 1,200 Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Stonegate Investment Group LLC bought a new stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,200 shares of the technology company's stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CHKP. Nemes Rush Group LLC purchased a new stake in Check Point Software Technologies during the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in Check Point Software Technologies during the fourth quarter worth about $29,000. Quarry LP boosted its holdings in 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 buying an additional 103 shares in the last quarter. Menard Financial Group LLC purchased a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $41,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Check Point Software Technologies by 19.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 336 shares of the technology company's stock valued at $77,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Check Point Software Technologies Stock Performance

Shares of CHKP stock traded up $5.16 on Monday, hitting $223.37. The stock had a trading volume of 561,540 shares, compared to its average volume of 786,878. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 3.12 and a beta of 0.66. The stock's 50 day moving average is $220.20 and its 200-day moving average is $211.78. Check Point Software Technologies Ltd. has a 52-week low of $153.88 and a 52-week high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.02. The business had revenue of $637.80 million during the quarter, compared to the consensus estimate of $635.80 million. Check Point Software Technologies had a net margin of 32.75% and a return on equity of 32.88%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 earnings per share. Equities analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHKP. Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a report on Thursday, February 27th. Morgan Stanley reduced their price target on shares of Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Roth Capital began coverage on shares of Check Point Software Technologies in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target on the stock. JPMorgan Chase & Co. raised shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and upped their price target for the company from $221.00 to $255.00 in a report on Wednesday, February 26th. Finally, Wall Street Zen raised shares of Check Point Software Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Sixteen equities 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $232.44.

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.