Peregrine Asset Advisers Inc. Trims Stake in Check Point Software Technologies Ltd. (CHKP)

Peregrine Asset Advisers Inc. cut its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 95.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,870 shares of the technology company’s stock after selling 42,343 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Check Point Software Technologies were worth $204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fiduciary Trust Co. acquired a new stake in shares of Check Point Software Technologies in the 2nd quarter valued at about $145,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Check Point Software Technologies by 1.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock valued at $151,000 after acquiring an additional 20 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in Check Point Software Technologies by 10.7% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,509 shares of the technology company’s stock valued at $155,000 after acquiring an additional 146 shares in the last quarter. Parallel Advisors LLC lifted its position in Check Point Software Technologies by 13.9% in the 1st quarter. Parallel Advisors LLC now owns 1,654 shares of the technology company’s stock valued at $173,000 after acquiring an additional 202 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in Check Point Software Technologies by 2.2% in the 2nd quarter. Trust Co. of Vermont now owns 1,814 shares of the technology company’s stock valued at $198,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 67.82% of the company’s stock.

Several equities analysts recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Check Point Software Technologies in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $110.00 price target on the stock. Evercore ISI set a $100.00 price target on shares of Check Point Software Technologies and gave the company a “hold” rating in a research report on Friday, August 11th. BidaskClub raised shares of Check Point Software Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $128.00 price target on shares of Check Point Software Technologies in a research report on Wednesday, July 26th. Finally, Piper Jaffray Companies set a $108.00 price target on shares of Check Point Software Technologies and gave the company a “hold” rating in a research report on Friday, August 25th. Eighteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Check Point Software Technologies currently has an average rating of “Hold” and a consensus target price of $110.64.

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Check Point Software Technologies Ltd. (NASDAQ CHKP) traded down 1.05% on Tuesday, reaching $111.52. 180,563 shares of the company were exchanged. The firm has a market capitalization of $18.21 billion, a P/E ratio of 24.74 and a beta of 0.73. The firm has a 50-day moving average of $108.03 and a 200 day moving average of $107.08. Check Point Software Technologies Ltd. has a 12-month low of $74.34 and a 12-month high of $116.63.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Thursday, July 20th. The technology company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.04. Check Point Software Technologies had a net margin of 42.17% and a return on equity of 22.02%. The business had revenue of $458.60 million for the quarter, compared to the consensus estimate of $454.62 million. During the same period last year, the firm earned $1.09 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Check Point Software Technologies Ltd. will post $5.18 earnings per share for the current year.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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