Sphera Funds Management LTD. Makes New $7.75 Million Investment in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sphera Funds Management LTD. purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the third quarter, HoldingsChannel reports. The institutional investor purchased 40,215 shares of the technology company’s stock, valued at approximately $7,754,000. Check Point Software Technologies accounts for 1.2% of Sphera Funds Management LTD.’s investment portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its stake in shares of Check Point Software Technologies by 2.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock valued at $912,070,000 after acquiring an additional 114,938 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock valued at $677,869,000 after acquiring an additional 391,983 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Check Point Software Technologies by 1.1% in the second quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock valued at $595,450,000 after acquiring an additional 39,092 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Check Point Software Technologies by 10.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,836,799 shares of the technology company’s stock valued at $354,153,000 after acquiring an additional 177,104 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Check Point Software Technologies by 28.7% in the third quarter. FMR LLC now owns 1,133,175 shares of the technology company’s stock valued at $218,488,000 after purchasing an additional 252,581 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Check Point Software Technologies Trading Up 1.7 %

Shares of NASDAQ:CHKP opened at $190.22 on Thursday. The company has a 50 day moving average of $188.73 and a 200 day moving average of $178.97. The stock has a market cap of $20.92 billion, a P/E ratio of 25.99, a P/E/G ratio of 3.19 and a beta of 0.63. Check Point Software Technologies Ltd. has a 12 month low of $143.28 and a 12 month high of $210.70.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.25. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.80 EPS. On average, equities analysts forecast that Check Point Software Technologies Ltd. will post 7.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHKP has been the subject of a number of research reports. Truist Financial raised their price target on shares of Check Point Software Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on shares of Check Point Software Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Wednesday, October 30th. Wedbush boosted their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $187.00 price objective on shares of Check Point Software Technologies in a research report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $197.74.

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.