KBC Group NV lessened its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP – Free Report) by 12.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,665 shares of the technology company’s stock after selling 14,564 shares during the quarter. KBC Group NV owned 0.10% of Check Point Software Technologies worth $14,523,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in Check Point Software Technologies during the fourth quarter worth $731,276,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Check Point Software Technologies by 28.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,937,229 shares of the technology company’s stock valued at $1,472,832,000 after purchasing an additional 1,766,774 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Check Point Software Technologies by 26,561.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,233,899 shares of the technology company’s stock worth $228,962,000 after purchasing an additional 1,229,271 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Check Point Software Technologies by 105.0% in the 4th quarter. DNB Asset Management AS now owns 1,820,339 shares of the technology company’s stock worth $337,782,000 after purchasing an additional 932,485 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its position in shares of Check Point Software Technologies by 6,253,188.9% during the 4th quarter. Altshuler Shaham Ltd now owns 562,796 shares of the technology company’s stock worth $104,432,000 after purchasing an additional 562,787 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.
Check Point Software Technologies Price Performance
CHKP opened at $130.46 on Wednesday. Check Point Software Technologies Ltd. has a one year low of $112.23 and a one year high of $225.23. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.85 and a quick ratio of 1.85. The company’s 50 day simple moving average is $130.24 and its 200-day simple moving average is $148.09. The stock has a market capitalization of $13.78 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 4.00 and a beta of 0.49.
Insider Activity at Check Point Software Technologies
In other news, Director Yoav Chelouche sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $140.28, for a total transaction of $3,507,000.00. Following the completion of the sale, the director owned 4,008 shares in the company, valued at $562,242.24. The trade was a 86.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 29.00% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CHKP. UBS Group reduced their price target on shares of Check Point Software Technologies from $170.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Wedbush dropped their price objective on shares of Check Point Software Technologies from $210.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Piper Sandler cut shares of Check Point Software Technologies from an “overweight” rating to a “neutral” rating and set a $120.00 target price for the company. in a research note on Thursday, April 30th. Roth Capital set a $160.00 target price on Check Point Software Technologies in a report on Friday, May 1st. Finally, Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Check Point Software Technologies has a consensus rating of “Hold” and an average target price of $151.44.
Read Our Latest Stock Analysis on CHKP
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).
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