Goldman Sachs Group Inc. Raises Position in Check Point Software Technologies Ltd. $CHKP

Key Points

• Goldman Sachs Group Inc. increased its position in Check Point Software Technologies by 34%, owning 463,579 shares valued at approximately $105.66 million as of its latest SEC filing.
• Other institutional investors significantly raised their stakes, with notable increases from Victory Capital Management (2,704.5%) and Bessemer Group (5,396.1%) during the first quarter.
• Analysts have adjusted their price targets for Check Point Software Technologies, with a new average target of $227.58 and most ratings between "Buy" and "Hold."

Goldman Sachs Group Inc. increased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 34.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 463,579 shares of the technology company's stock after buying an additional 117,504 shares during the period. Goldman Sachs Group Inc. owned 0.42% of Check Point Software Technologies worth $105,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHKP. Victory Capital Management Inc. raised its position in shares of Check Point Software Technologies by 2,704.5% in the first quarter. Victory Capital Management Inc. now owns 1,304,551 shares of the technology company's stock worth $297,333,000 after buying an additional 1,258,034 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Check Point Software Technologies by 737.5% in the 1st quarter. Invesco Ltd. now owns 982,986 shares of the technology company's stock worth $224,042,000 after purchasing an additional 865,608 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Check Point Software Technologies by 5,396.1% in the 1st quarter. Bessemer Group Inc. now owns 658,485 shares of the technology company's stock worth $150,081,000 after purchasing an additional 646,504 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Check Point Software Technologies by 214.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 864,717 shares of the technology company's stock valued at $197,086,000 after purchasing an additional 589,816 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Check Point Software Technologies by 182.0% during the 1st quarter. Bank of New York Mellon Corp now owns 627,489 shares of the technology company's stock valued at $143,017,000 after purchasing an additional 404,958 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CHKP shares. Jefferies Financial Group reduced 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. Stifel Nicolaus set a $200.00 price objective on Check Point Software Technologies in a research report on Wednesday, July 30th. Morgan Stanley reduced their price objective on Check Point Software Technologies from $215.00 to $193.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 2nd. Scotiabank reduced their price objective on Check Point Software Technologies from $240.00 to $220.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their price objective on Check Point Software Technologies from $224.00 to $207.00 and set a "sector perform" rating on the stock in a research report 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $227.58.

Check Point Software Technologies Trading Down 0.7%

CHKP opened at $195.19 on Friday. The company has a market cap of $21.47 billion, a P/E ratio of 25.42, a P/E/G ratio of 2.95 and a beta of 0.60. The business's 50-day moving average price is $200.24 and its 200-day moving average price is $214.00. Check Point Software Technologies Ltd. has a 12 month low of $169.01 and a 12 month high of $234.35.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $665.20 million for the quarter, compared to the consensus estimate of $663.10 million. Check Point Software Technologies had a return on equity of 33.21% and a net margin of 32.48%.The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 earnings per share. 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. Equities research analysts forecast that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current fiscal 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.

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.