Check Point Software Technologies Ltd. (NASDAQ:CHKP) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 41.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,461 shares of the technology company's stock after selling 40,525 shares during the quarter. Citigroup Inc. owned about 0.05% of Check Point Software Technologies worth $10,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CHKP. Acadian Asset Management LLC increased its position in Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company's stock worth $677,869,000 after purchasing an additional 391,983 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Check Point Software Technologies during the 2nd quarter valued at about $47,244,000. Meitav Investment House Ltd. raised its position in shares of Check Point Software Technologies by 1,295.8% during the 2nd quarter. Meitav Investment House Ltd. now owns 209,612 shares of the technology company's stock valued at $34,557,000 after buying an additional 194,595 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Check Point Software Technologies by 10.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company's stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Check Point Software Technologies by 2.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company's stock worth $912,070,000 after acquiring an additional 114,938 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Stock Up 0.2 %

Shares of NASDAQ CHKP traded up $0.45 during mid-day trading on Friday, reaching $182.00. 246,763 shares of the company were exchanged, compared to its average volume of 693,062. Check Point Software Technologies Ltd. has a 1 year low of $143.28 and a 1 year high of $210.70. The firm has a 50-day moving average of $189.48 and a 200 day moving average of $177.79. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 3.10 and a beta of 0.63.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, meeting analysts' consensus estimates of $2.25. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business had revenue of $635.10 million for the quarter, compared to analysts' expectations of $634.96 million. During the same period last year, the business earned $1.80 EPS. The company's revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price objective on Check Point Software Technologies from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Bank of America cut shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Mizuho lifted their price target on shares of Check Point Software Technologies from $178.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Wedbush increased their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Check Point Software Technologies from $180.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Fifteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $197.74.

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.