Ritholtz Wealth Management Sells 1,042 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Ritholtz Wealth Management reduced its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 13.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,807 shares of the technology company’s stock after selling 1,042 shares during the quarter. Ritholtz Wealth Management’s holdings in Check Point Software Technologies were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Check Point Software Technologies by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 409,794 shares of the technology company’s stock valued at $62,612,000 after purchasing an additional 25,947 shares during the last quarter. Richardson Financial Services Inc. bought a new position in Check Point Software Technologies during the 4th quarter valued at about $33,000. Fisher Asset Management LLC lifted its stake in Check Point Software Technologies by 32.7% during the 4th quarter. Fisher Asset Management LLC now owns 2,600 shares of the technology company’s stock valued at $397,000 after acquiring an additional 641 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Check Point Software Technologies during the 4th quarter valued at about $5,348,000. Finally, Butensky & Cohen Financial Security Inc. lifted its stake in Check Point Software Technologies by 0.4% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 26,472 shares of the technology company’s stock valued at $4,342,000 after acquiring an additional 102 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Check Point Software Technologies Price Performance

CHKP stock opened at $208.54 on Monday. The business has a 50-day moving average price of $190.16 and a 200 day moving average price of $171.25. The company has a market capitalization of $23.55 billion, a P/E ratio of 28.96, a PEG ratio of 3.17 and a beta of 0.62. Check Point Software Technologies Ltd. has a 1-year low of $126.57 and a 1-year high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. The firm had revenue of $627.40 million during the quarter, compared to the consensus estimate of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. On average, analysts anticipate that Check Point Software Technologies Ltd. will post 7.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CHKP shares. Jefferies Financial Group increased their price objective on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Susquehanna increased their price objective on shares of Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Truist Financial reiterated a “buy” rating and issued a $200.00 price objective (up previously from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Finally, 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 note on Wednesday, October 9th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Hold” and an average price target of $186.05.

About Check Point Software Technologies

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.