Gabelli Funds LLC Has $1.90 Million Stake in Check Point Software Technologies Ltd. $CHKP

Gabelli Funds LLC lifted its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 109.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,283 shares of the technology company’s stock after buying an additional 6,956 shares during the quarter. Gabelli Funds LLC’s holdings in Check Point Software Technologies were worth $1,897,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new stake in Check Point Software Technologies in the third quarter worth approximately $27,000. Abound Financial LLC acquired a new position in Check Point Software Technologies in the 4th quarter valued at $27,000. MV Capital Management Inc. bought a new position in Check Point Software Technologies in the 4th quarter worth $28,000. Ossiam raised its holdings in Check Point Software Technologies by 139.1% in the 3rd quarter. Ossiam now owns 165 shares of the technology company’s stock worth $34,000 after acquiring an additional 96 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in Check Point Software Technologies during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Activity at Check Point Software Technologies

In other news, Director Yoav Chelouche sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $140.28, for a total value of $3,507,000.00. Following the sale, the director owned 4,008 shares of the company’s stock, valued at approximately $562,242.24. This represents a 86.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Mizuho set a $135.00 price target on Check Point Software Technologies in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Check Point Software Technologies in a research report on Friday, May 1st. Morgan Stanley set a $133.00 target price on Check Point Software Technologies in a research note on Friday, May 1st. Bank of America raised their price objective on shares of Check Point Software Technologies from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Raymond James Financial cut shares of Check Point Software Technologies from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $151.81.

Check Point Software Technologies Price Performance

Shares of CHKP stock opened at $139.67 on Thursday. The stock’s fifty day simple moving average is $131.31 and its 200 day simple moving average is $145.81. Check Point Software Technologies Ltd. has a one year low of $112.23 and a one year high of $210.66. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 4.07 and a beta of 0.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.85 and a quick ratio of 1.85.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. The firm had revenue of $668.40 million during the quarter, compared to analyst estimates of $672.55 million. Check Point Software Technologies had a return on equity of 38.79% and a net margin of 38.37%.The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 earnings per share. On average, analysts expect that Check Point Software Technologies Ltd. will post 8.44 earnings per share for the current fiscal year.

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).