Sumitomo Mitsui Trust Group Inc. Sells 24,006 Shares of Check Point Software Technologies Ltd. $CHKP

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,443 shares of the technology company’s stock after selling 24,006 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.13% of Check Point Software Technologies worth $17,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CHKP. Junto Capital Management LP bought a new position in shares of Check Point Software Technologies during the 2nd quarter worth approximately $72,445,000. Renaissance Technologies LLC bought a new stake in Check Point Software Technologies in the 1st quarter valued at $34,171,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Check Point Software Technologies during the 2nd quarter valued at $25,752,000. Bank of America Corp DE lifted its holdings in Check Point Software Technologies by 26.6% during the 1st quarter. Bank of America Corp DE now owns 808,428 shares of the technology company’s stock valued at $115,484,000 after purchasing an additional 170,024 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in Check Point Software Technologies by 633.4% during the first quarter. Mizuho Markets Americas LLC now owns 158,900 shares of the technology company’s stock worth $22,699,000 after purchasing an additional 137,235 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

CHKP opened at $148.18 on Friday. The business has a fifty day simple moving average of $138.58 and a 200 day simple moving average of $140.90. The company has a market capitalization of $15.13 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 4.22 and a beta of 0.43. Check Point Software Technologies Ltd. has a 1 year low of $112.23 and a 1 year high of $206.43. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.67.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $669.80 million for the quarter, compared to analyst estimates of $672.06 million. Check Point Software Technologies had a return on equity of 34.08% and a net margin of 31.74%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.94 EPS. Research analysts expect that Check Point Software Technologies Ltd. will post 8.45 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of Check Point Software Technologies from $135.00 to $140.00 and gave the company a “sector perform” rating in a report on Tuesday. UBS Group increased their price objective on shares of Check Point Software Technologies from $145.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday. Yorkville Ives started coverage on shares of Check Point Software Technologies in a research note on Wednesday, October 7th. They set an “outperform” rating and a $150.00 target price for the company. Roth Capital set a $105.00 target price on shares of Check Point Software Technologies in a report on Friday, July 31st. Finally, Citigroup upped their price target on shares of Check Point Software Technologies from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday. Ten analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $151.32.

Insider Activity

In related news, insider Nataly Kremer sold 3,185 shares of the company’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $150.08, for a total value of $478,004.80. Following the transaction, the insider directly owned 19,347 shares in the company, valued at approximately $2,903,597.76. This represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 29.00% of the company’s stock.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is a cybersecurity company that develops products and services designed to protect organizations, governments and consumers from cyber threats. Its offerings help secure networks, cloud environments, endpoints, mobile devices, data and remote access, with capabilities including threat prevention, firewall protection, intrusion prevention, email security and security management.

The company organizes its portfolio under platforms that include Quantum for network security, CloudGuard for cloud security and Harmony for user, endpoint and remote-access protection.