Envestnet Portfolio Solutions Inc. Sells 1,437 Shares of Check Point Software Technologies Ltd. $CHKP

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Check Point Software Technologies by 29.1%, holding 3,502 shares valued at $775,000 after selling 1,437 shares in the second quarter.
• Multiple institutional investors increased their positions in Check Point, including Victory Capital Management Inc., which raised its stake by 2,704.5%, now owning over 1.3 million shares valued at $297 million.
• Check Point Software Technologies reported Q2 earnings of $2.37 per share, exceeding estimates and reflecting a year-over-year revenue growth of 6.0%, setting guidance for FY 2025 at 9.600-10.200 EPS.

Envestnet Portfolio Solutions Inc. decreased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 29.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,502 shares of the technology company's stock after selling 1,437 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Check Point Software Technologies were worth $775,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHKP. Victory Capital Management Inc. boosted its stake in Check Point Software Technologies by 2,704.5% during the first quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock valued at $297,333,000 after buying an additional 1,258,034 shares during the last quarter. Invesco Ltd. boosted its stake in Check Point Software Technologies by 737.5% during the first quarter. Invesco Ltd. now owns 982,986 shares of the technology company's stock valued at $224,042,000 after buying an additional 865,608 shares during the last quarter. Bessemer Group Inc. boosted its stake in Check Point Software Technologies by 5,396.1% during the first quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock valued at $150,081,000 after buying an additional 646,504 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Check Point Software Technologies by 214.6% during the first quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock valued at $197,086,000 after buying an additional 589,816 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Check Point Software Technologies by 43.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,483,714 shares of the technology company's stock valued at $338,168,000 after buying an additional 450,099 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP opened at $190.65 on Monday. The business's 50 day moving average price is $194.73 and its 200-day moving average price is $209.25. Check Point Software Technologies Ltd. has a fifty-two week low of $169.01 and a fifty-two week high of $234.35. The company has a market cap of $20.97 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.87 and a beta of 0.60.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.37 earnings per share 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 firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. During the same period in the prior year, the business posted $2.17 earnings per share. The company's revenue for the quarter 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. Sell-side analysts predict that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHKP shares. Morgan Stanley dropped their price target on Check Point Software Technologies from $215.00 to $193.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 2nd. Cantor Fitzgerald set a $220.00 price objective on Check Point Software Technologies and gave the company a "neutral" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. decreased their price objective on Check Point Software Technologies from $257.00 to $251.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 24th. Jefferies Financial Group decreased their price objective on Check Point Software Technologies from $260.00 to $230.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, Wells Fargo & Company decreased their price objective on Check Point Software Technologies from $265.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $227.00.

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.

Want to see what other hedge funds are holding CHKP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.