Vontobel Holding Ltd. Reduces Stock Position in Check Point Software Technologies Ltd. $CHKP

Key Points

• Vontobel Holding Ltd. has reduced its stake in Check Point Software Technologies by 22.0%, owning now 65,844 shares worth approximately $14.56 million.
• Recent analysis shows that most Wall Street analysts rate the stock as a "Hold", with an average price target of $226.79.
• Check Point Software Technologies reported a quarterly revenue of $665.20 million, exceeding expectations and marking a 6.0% year-over-year growth.

Vontobel Holding Ltd. cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 22.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,844 shares of the technology company's stock after selling 18,525 shares during the period. Vontobel Holding Ltd. owned approximately 0.06% of Check Point Software Technologies worth $14,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Horizon Investments LLC raised its position 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 purchasing an additional 85 shares during the last quarter. Cromwell Holdings LLC acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $37,000. Abound Financial LLC acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $40,000. TruNorth Capital Management LLC acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $45,000. Finally, Summit Securities Group LLC acquired a new position in shares of Check Point Software Technologies during the 1st quarter worth approximately $49,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CHKP shares. Scotiabank set a $205.00 price objective on Check Point Software Technologies and gave the stock a "sector perform" rating in a research report on Monday. Citigroup cut their price objective on Check Point Software Technologies from $230.00 to $200.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Barclays set a $215.00 price objective on Check Point Software Technologies and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Stephens lowered their target price on shares of Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Finally, Morgan Stanley lowered their target price on shares of Check Point Software Technologies from $215.00 to $193.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $226.79.

Check Point Software Technologies Stock Performance

CHKP stock opened at $198.05 on Friday. The stock has a market capitalization of $21.78 billion, a P/E ratio of 25.79, a PEG ratio of 3.02 and a beta of 0.60. Check Point Software Technologies Ltd. has a one year low of $169.01 and a one year high of $234.35. The company has a 50 day moving average price of $194.19 and a two-hundred day moving average price of $211.02.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $665.20 million for the quarter, compared to analyst estimates of $663.10 million. Check Point Software Technologies had a net margin of 32.48% and a return on equity of 33.21%. Check Point Software Technologies's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business 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. Research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal 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.

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