Allianz Asset Management GmbH Sells 15,805 Shares of Check Point Software Technologies Ltd. $CHKP

Allianz Asset Management GmbH trimmed its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 37.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,663 shares of the technology company’s stock after selling 15,805 shares during the quarter. Allianz Asset Management GmbH’s holdings in Check Point Software Technologies were worth $5,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in Check Point Software Technologies in the 2nd quarter valued at about $25,000. Louisbourg Investments Inc. bought a new stake in shares of Check Point Software Technologies during the third quarter valued at approximately $29,000. First Horizon Corp bought a new stake in shares of Check Point Software Technologies during the third quarter valued at approximately $38,000. AlphaCore Capital LLC acquired a new stake in shares of Check Point Software Technologies in the second quarter valued at approximately $43,000. Finally, Heartwood Wealth Advisors LLC bought a new position in Check Point Software Technologies in the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CHKP shares. BMO Capital Markets lifted their target price on Check Point Software Technologies from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Stifel Nicolaus set a $211.00 price target on Check Point Software Technologies in a report on Tuesday, October 28th. Mizuho set a $225.00 price objective on Check Point Software Technologies in a report on Wednesday, October 29th. Barclays reduced their target price on shares of Check Point Software Technologies from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Monday, January 5th. Finally, Weiss Ratings raised shares of Check Point Software Technologies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Check Point Software Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $226.62.

Check Point Software Technologies Stock Performance

CHKP opened at $180.57 on Wednesday. The firm’s fifty day moving average is $186.02 and its two-hundred day moving average is $191.26. The firm has a market cap of $19.86 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.58. Check Point Software Technologies Ltd. has a twelve month low of $170.49 and a twelve month high of $234.35.

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).