1832 Asset Management L.P. Acquires 169,915 Shares of Check Point Software Technologies Ltd. $CHKP

Key Points

• 1832 Asset Management L.P. significantly increased its stake in Check Point Software Technologies by 782.7%, acquiring a total of 191,625 shares valued at approximately $43.7 million.
• Check Point Software Technologies reported earnings of $2.37 per share, exceeding analysts' expectations and showing a 6% year-over-year revenue increase to $665.2 million.
• Currently, the majority of Check Point's stock, around 98.51%, is held by institutional investors and hedge funds, reflecting strong institutional interest in the company.

1832 Asset Management L.P. lifted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 782.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 191,625 shares of the technology company's stock after acquiring an additional 169,915 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.17% of Check Point Software Technologies worth $43,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Check Point Software Technologies by 28.1% during the first quarter. Ameriprise Financial Inc. now owns 1,830,874 shares of the technology company's stock worth $417,280,000 after acquiring an additional 401,150 shares during the last quarter. Martin Investment Management LLC grew its stake in shares of Check Point Software Technologies by 2.2% during the first quarter. Martin Investment Management LLC now owns 160,042 shares of the technology company's stock worth $36,477,000 after purchasing an additional 3,490 shares during the period. Atika Capital Management LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth $4,558,000. Venture Visionary Partners LLC acquired a new stake in shares of Check Point Software Technologies during the first quarter worth $207,000. Finally, Berkshire Asset Management LLC PA acquired a new stake in shares of Check Point Software Technologies during the first quarter worth $213,000. Institutional investors own 98.51% of the company's stock.

Analyst Ratings Changes

CHKP has been the subject of a number of analyst reports. Scotiabank decreased their price objective on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus set a $200.00 price objective on Check Point Software Technologies in a research note on Wednesday, July 30th. Stephens decreased their price objective on Check Point Software Technologies from $229.00 to $210.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Citigroup decreased their target price on Check Point Software Technologies from $230.00 to $200.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. Finally, Cantor Fitzgerald set a $220.00 target price on Check Point Software Technologies and gave the company a "neutral" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $228.50.

Check Point Software Technologies Stock Performance

CHKP traded up $3.05 on Wednesday, hitting $190.67. 531,253 shares of the company were exchanged, compared to its average volume of 930,383. Check Point Software Technologies Ltd. has a 12 month low of $169.01 and a 12 month high of $234.35. The company has a market cap of $20.97 billion, a PE ratio of 24.83, a PEG ratio of 2.82 and a beta of 0.59. The stock's fifty day moving average is $207.20 and its 200-day moving average is $216.29.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%.The business had revenue of $665.20 million for the quarter, compared to analyst estimates of $663.10 million. During the same quarter in the prior year, the company posted $2.17 earnings per share. Check Point Software Technologies's revenue was up 6.0% on a year-over-year basis. Check Point Software Technologies has set its FY 2025 guidance at 9.600-10.200 EPS. Q3 2025 guidance at 2.400-2.500 EPS. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Check Point Software Technologies Company 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.