Envestnet Asset Management Inc. Sells 64,799 Shares of Check Point Software Technologies Ltd. $CHKP

Envestnet Asset Management Inc. cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 369,530 shares of the technology company’s stock after selling 64,799 shares during the quarter. Envestnet Asset Management Inc. owned about 0.34% of Check Point Software Technologies worth $81,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in Check Point Software Technologies by 39.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,531 shares of the technology company’s stock worth $339,000 after buying an additional 434 shares in the last quarter. MQS Management LLC bought a new stake in Check Point Software Technologies during the second quarter worth about $296,000. City State Bank lifted its stake in Check Point Software Technologies by 260.8% during the second quarter. City State Bank now owns 3,085 shares of the technology company’s stock worth $683,000 after purchasing an additional 2,230 shares during the last quarter. CNB Bank lifted its stake in Check Point Software Technologies by 69.7% during the second quarter. CNB Bank now owns 392 shares of the technology company’s stock worth $87,000 after purchasing an additional 161 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Check Point Software Technologies by 1.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 183,755 shares of the technology company’s stock worth $40,656,000 after purchasing an additional 3,296 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BMO Capital Markets lifted their price target on Check Point Software Technologies from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group lifted their price target on Check Point Software Technologies from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays lifted their price target on Check Point Software Technologies from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company lowered their target price on Check Point Software Technologies from $265.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on Check Point Software Technologies from $257.00 to $251.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $230.48.

Check Point Software Technologies Trading Down 3.1%

NASDAQ CHKP opened at $197.28 on Thursday. Check Point Software Technologies Ltd. has a 1-year low of $169.01 and a 1-year high of $234.35. The stock has a 50-day moving average of $196.18 and a 200-day moving average of $208.18. The firm has a market cap of $21.70 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.06 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKP) last released its quarterly earnings results on Tuesday, October 28th. The technology company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $1.49. The business had revenue of $677.50 million during the quarter, compared to analyst estimates of $673.60 million. Check Point Software Technologies had a return on equity of 38.89% and a net margin of 37.62%.Check Point Software Technologies’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.25 EPS. Check Point Software Technologies has set its FY 2025 guidance at 11.220-11.320 EPS. Q4 2025 guidance at 2.700-2.800 EPS. As a group, equities research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share 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 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.