Svenska Handelsbanken AB publ Has $1.88 Million Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Svenska Handelsbanken AB publ decreased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,300 shares of the technology company’s stock after selling 1,900 shares during the quarter. Check Point Software Technologies makes up about 2.2% of Svenska Handelsbanken AB publ’s investment portfolio, making the stock its 27th largest position. Svenska Handelsbanken AB publ’s holdings in Check Point Software Technologies were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Pinnacle Bank raised its position in shares of Check Point Software Technologies by 69.7% during the second quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. NuWave Investment Management LLC increased its holdings in Check Point Software Technologies by 64.5% in the second quarter. NuWave Investment Management LLC now owns 306 shares of the technology company’s stock valued at $36,000 after purchasing an additional 120 shares during the last quarter. First Personal Financial Services increased its holdings in Check Point Software Technologies by 64.8% in the first quarter. First Personal Financial Services now owns 374 shares of the technology company’s stock valued at $47,000 after purchasing an additional 147 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the first quarter worth about $63,000. Finally, Bremer Bank National Association bought a new stake in shares of Check Point Software Technologies in the first quarter worth about $72,000. 70.99% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on CHKP. Deutsche Bank upped their price objective on Check Point Software Technologies from $110.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. BidaskClub cut Check Point Software Technologies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 31st. Evercore ISI set a $105.00 price target on Check Point Software Technologies and gave the company a “hold” rating in a research report on Wednesday, July 24th. Barclays increased their price target on Check Point Software Technologies from $120.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Finally, Cowen started coverage on Check Point Software Technologies in a research report on Thursday, May 23rd. They set a “market perform” rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Check Point Software Technologies presently has an average rating of “Hold” and a consensus target price of $124.47.

Shares of CHKP traded down $0.66 during mid-day trading on Friday, reaching $111.04. The company’s stock had a trading volume of 619,282 shares, compared to its average volume of 1,156,091. Check Point Software Technologies Ltd. has a 1-year low of $98.57 and a 1-year high of $132.76. The stock has a market cap of $16.64 billion, a PE ratio of 21.31, a P/E/G ratio of 2.25 and a beta of 0.79. The business’s 50-day moving average price is $115.20.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.14. Check Point Software Technologies had a return on equity of 22.05% and a net margin of 40.99%. The company had revenue of $488.10 million during the quarter, compared to analysts’ expectations of $487.53 million. During the same period last year, the firm posted $1.37 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. On average, analysts forecast that Check Point Software Technologies Ltd. will post 5.49 EPS for the current fiscal year.

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 portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

Further Reading: Economic Bubble

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

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