Assetmark Inc. Has $16.55 Million Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Key Points

• Assetmark Inc. reduced its stock position in Check Point Software Technologies by 48.5% during the first quarter, owning 72,599 shares worth approximately $16.5 million.
• Several analysts have adjusted their price targets for Check Point Software Technologies, with current targets ranging from $215.00 to $265.00, reflecting varying ratings from "neutral" to "sector outperform."
• Check Point Software Technologies reported $2.21 EPS for the last quarter, slightly exceeding analyst expectations, while revenue increased by 6.5% year-over-year to approximately $637.8 million.

Assetmark Inc. cut its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 48.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,599 shares of the technology company's stock after selling 68,344 shares during the period. Assetmark Inc. owned 0.07% of Check Point Software Technologies worth $16,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Nemes Rush Group LLC acquired a new stake in shares of Check Point Software Technologies in the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new stake in Check Point Software Technologies during the 4th quarter worth approximately $29,000. Cromwell Holdings LLC bought a new stake in Check Point Software Technologies during the 1st quarter worth approximately $37,000. Abound Financial LLC bought a new stake in Check Point Software Technologies during the 1st quarter worth approximately $40,000. Finally, TruNorth Capital Management LLC bought a new stake in Check Point Software Technologies during the 1st quarter worth approximately $45,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CHKP. Barclays increased their target price on Check Point Software Technologies from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Wells Fargo & Company lowered their target price on Check Point Software Technologies from $280.00 to $265.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Morgan Stanley lowered their target price on Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. BMO Capital Markets reissued an "outperform" rating and set a $250.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, April 23rd. Finally, Mizuho raised their price target on shares of Check Point Software Technologies from $230.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Check Point Software Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $236.50.

Check Point Software Technologies Stock Down 0.8%

Shares of CHKP traded down $1.82 during midday trading on Monday, reaching $218.29. 1,064,255 shares of the stock were exchanged, compared to its average volume of 884,849. The company has a market cap of $24.01 billion, a P/E ratio of 28.80, a PEG ratio of 3.15 and a beta of 0.64. The stock's 50 day simple moving average is $222.85 and its 200 day simple moving average is $217.81. Check Point Software Technologies Ltd. has a twelve month low of $169.01 and a twelve month high of $234.35.

About Check Point Software Technologies

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.