1832 Asset Management L.P. Acquires 5,950 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

1832 Asset Management L.P. lifted its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 29.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,202 shares of the technology company’s stock after buying an additional 5,950 shares during the quarter. 1832 Asset Management L.P.’s holdings in Check Point Software Technologies were worth $4,297,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Check Point Software Technologies by 52.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 55,681 shares of the technology company’s stock valued at $8,508,000 after purchasing an additional 19,111 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $1,505,000. Unique Wealth Strategies LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $1,005,000. Tritonpoint Wealth LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $2,586,000. Finally, Heritage Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $904,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Check Point Software Technologies from $170.00 to $165.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft upped their price target on Check Point Software Technologies from $175.00 to $185.00 and gave the company a “hold” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on Check Point Software Technologies from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday. Susquehanna boosted their price objective on Check Point Software Technologies from $200.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Truist Financial restated a “buy” rating and set a $200.00 price target (up previously from $175.00) on shares of Check Point Software Technologies in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Check Point Software Technologies presently has an average rating of “Hold” and a consensus price target of $183.68.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP traded up $1.57 during trading on Friday, hitting $182.74. The company had a trading volume of 638,013 shares, compared to its average volume of 756,486. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $125.68 and a one year high of $184.67. The company has a fifty day simple moving average of $161.86 and a two-hundred day simple moving average of $160.27.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The business had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.74 EPS. On average, equities research analysts anticipate that Check Point Software Technologies Ltd. will post 7.79 earnings per share for the current 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.