Envestnet Asset Management Inc. Sells 6,845 Shares of Check Point Software Technologies Ltd. $CHKP

Envestnet Asset Management Inc. reduced its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,685 shares of the technology company’s stock after selling 6,845 shares during the period. Envestnet Asset Management Inc. owned 0.33% of Check Point Software Technologies worth $75,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHKP. Massachusetts Financial Services Co. MA lifted its holdings in Check Point Software Technologies by 27.1% during the third 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 purchasing an additional 1,317,167 shares in the last quarter. Norges Bank purchased a new position in shares of Check Point Software Technologies during the 2nd quarter valued at $714,801,000. Ninety One UK Ltd boosted its stake in shares of 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 acquiring an additional 8,814 shares during the period. Ameriprise Financial Inc. grew its position in shares of 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 in the last quarter. Finally, First Trust Advisors LP raised its stake in Check Point Software Technologies by 9.6% during the 2nd 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 during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Up 2.6%

CHKP stock opened at $180.91 on Monday. Check Point Software Technologies Ltd. has a 52 week low of $170.49 and a 52 week high of $234.35. The firm has a market capitalization of $19.90 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.92 and a beta of 0.58. The company has a fifty day simple moving average of $186.26 and a two-hundred day simple moving average of $191.82.

Analyst Ratings Changes

Several research firms have weighed in on CHKP. Piper Sandler dropped their price target on Check Point Software Technologies from $260.00 to $240.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. Stephens upgraded shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $225.00 to $240.00 in a research report on Wednesday, January 14th. Morgan Stanley set a $197.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, January 28th. BMO Capital Markets boosted their price target on shares of Check Point Software Technologies from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings upgraded Check Point Software Technologies from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.62.

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).