Check Point Software Technologies Ltd. (NASDAQ:CHKP) Stock Position Lowered by Easterly Investment Partners LLC

Easterly Investment Partners LLC decreased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,755 shares of the technology company's stock after selling 6,107 shares during the period. Easterly Investment Partners LLC owned about 0.06% of Check Point Software Technologies worth $11,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Check Point Software Technologies in the 2nd quarter worth about $30,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Check Point Software Technologies in the 3rd quarter worth about $33,000. Concord Wealth Partners bought a new stake in shares of Check Point Software Technologies in the 3rd quarter worth about $37,000. FSC Wealth Advisors LLC bought a new stake in shares of Check Point Software Technologies in the 3rd quarter worth about $60,000. Finally, Sound Income Strategies LLC increased its position in shares of Check Point Software Technologies by 654.4% in the 3rd quarter. Sound Income Strategies LLC now owns 430 shares of the technology company's stock worth $83,000 after purchasing an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Check Point Software Technologies Stock Performance

Shares of NASDAQ:CHKP traded down $0.84 during trading on Friday, reaching $176.03. The company had a trading volume of 714,551 shares, compared to its average volume of 696,994. The firm's fifty day moving average is $192.81 and its 200 day moving average is $175.29. The firm has a market capitalization of $19.36 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.90 and a beta of 0.63. Check Point Software Technologies Ltd. has a twelve month low of $138.00 and a twelve month high of $210.70.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CHKP shares. Barclays dropped 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. JPMorgan Chase & Co. boosted their price objective on shares of Check Point Software Technologies from $180.00 to $210.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed 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. Finally, Truist Financial boosted their price objective on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.