J. Safra Sarasin Holding AG Has $2.32 Million Holdings in Check Point Software Technologies Ltd. $CHKP

J. Safra Sarasin Holding AG trimmed its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 72.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,208 shares of the technology company’s stock after selling 28,972 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Check Point Software Technologies were worth $2,319,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CHKP. Massachusetts Financial Services Co. MA raised its stake in shares of Check Point Software Technologies by 27.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,170,455 shares of the technology company’s stock valued at $1,276,729,000 after buying an additional 1,317,167 shares in the last quarter. Norges Bank bought a new stake in Check Point Software Technologies in the second quarter valued at about $714,801,000. Ninety One UK Ltd raised its position in Check Point Software Technologies by 0.3% in the third quarter. Ninety One UK Ltd now owns 2,601,592 shares of the technology company’s stock worth $538,295,000 after purchasing an additional 8,814 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Check Point Software Technologies by 9.3% during the second quarter. Ameriprise Financial Inc. now owns 2,001,247 shares of the technology company’s stock worth $442,733,000 after purchasing an additional 170,373 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Check Point Software Technologies by 9.6% during the second quarter. First Trust Advisors LP now owns 1,899,862 shares of the technology company’s stock valued at $420,344,000 after purchasing an additional 166,092 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Stock Down 1.0%

Shares of NASDAQ CHKP opened at $182.94 on Wednesday. The firm’s 50-day simple moving average is $187.47 and its 200 day simple moving average is $194.17. The company has a market cap of $20.12 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59. Check Point Software Technologies Ltd. has a 12-month low of $173.77 and a 12-month high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP) last posted its quarterly earnings data on Tuesday, October 28th. The technology company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $2.45 by $1.49. Check Point Software Technologies had a net margin of 37.62% and a return on equity of 37.91%. The firm had revenue of $677.50 million during the quarter, compared to analysts’ expectations of $673.60 million. During the same quarter last year, the company posted $2.25 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CHKP shares. KeyCorp raised Check Point Software Technologies to a “hold” rating in a report on Monday, January 12th. Morgan Stanley set a $212.00 price objective on Check Point Software Technologies in a research note on Wednesday, October 29th. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Truist Financial set a $225.00 target price on shares of Check Point Software Technologies in a report on Tuesday, January 20th. Finally, Roth Mkm reissued a “neutral” rating on shares of Check Point Software Technologies in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Check Point Software Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.59.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).