JPMorgan Chase & Co. Sells 17,318 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

JPMorgan Chase & Co. cut its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 10.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,411 shares of the technology company's stock after selling 17,318 shares during the quarter. JPMorgan Chase & Co. owned 0.14% of Check Point Software Technologies worth $29,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies in the 3rd quarter worth approximately $27,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Check Point Software Technologies in the third quarter worth $33,000. Concord Wealth Partners purchased a new position in shares of Check Point Software Technologies during the third quarter valued at $37,000. Arrow Financial Corp raised its position in Check Point Software Technologies by 62.5% during the third quarter. Arrow Financial Corp now owns 260 shares of the technology company's stock valued at $50,000 after buying an additional 100 shares during the period. Finally, FSC Wealth Advisors LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter worth about $60,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP traded up $1.71 during trading hours on Wednesday, hitting $183.19. 963,613 shares of the company's stock were exchanged, compared to its average volume of 866,405. The company's 50-day moving average price is $182.25 and its 200-day moving average price is $184.62. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $210.70. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 3.21 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 EPS for the quarter, hitting analysts' consensus estimates of $2.25. The company had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a return on equity of 31.84% and a net margin of 33.17%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.80 earnings per share. On average, research analysts expect that Check Point Software Technologies Ltd. will post 7.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Check Point Software Technologies from $180.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Barclays cut their target price on shares of Check Point Software Technologies from $210.00 to $200.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. BMO Capital Markets boosted their price target on shares of Check Point Software Technologies from $200.00 to $238.00 and gave the company a "market perform" rating in a report on Friday, October 25th. Truist Financial increased their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Seventeen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $199.24.

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.