Sound Shore Management Inc CT Takes $73.10 Million Position in Check Point Software Technologies Ltd. $CHKP

Sound Shore Management Inc CT purchased a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 353,313 shares of the technology company’s stock, valued at approximately $73,104,000. Check Point Software Technologies makes up 2.4% of Sound Shore Management Inc CT’s holdings, making the stock its 28th biggest holding. Sound Shore Management Inc CT owned about 0.32% of Check Point Software Technologies at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CHKP. Penserra Capital Management LLC raised its stake in Check Point Software Technologies by 14.1% in the third quarter. Penserra Capital Management LLC now owns 468,954 shares of the technology company’s stock valued at $97,030,000 after purchasing an additional 57,817 shares in the last quarter. Davis Capital Management acquired a new position in shares of Check Point Software Technologies in the 3rd quarter valued at approximately $1,276,000. Ninety One UK Ltd lifted its holdings in shares of Check Point Software Technologies by 0.3% during the 3rd quarter. Ninety One UK Ltd now owns 2,601,592 shares of the technology company’s stock worth $538,295,000 after acquiring an additional 8,814 shares during the period. Triton Financial Group Inc bought a new position in Check Point Software Technologies in the second quarter valued at approximately $2,296,000. Finally, Meyer Handelman Co. raised its position in Check Point Software Technologies by 11.9% during the third quarter. Meyer Handelman Co. now owns 52,291 shares of the technology company’s stock valued at $10,820,000 after purchasing an additional 5,552 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CHKP. Weiss Ratings upgraded Check Point Software Technologies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 30th. Roth Mkm reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research note on Monday, October 27th. Scotiabank reissued a “sector perform” rating and set a $195.00 target price on shares of Check Point Software Technologies in a research note on Wednesday, January 21st. BMO Capital Markets increased their target price on shares of Check Point Software Technologies from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, Stifel Nicolaus set a $211.00 price target on shares of Check Point Software Technologies in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.62.

Check Point Software Technologies Trading Down 2.3%

NASDAQ:CHKP opened at $176.47 on Thursday. The stock’s 50-day moving average is $185.72 and its 200-day moving average is $191.15. Check Point Software Technologies Ltd. has a 1-year low of $170.49 and a 1-year high of $234.35. The stock has a market cap of $19.41 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58.

Check Point Software Technologies Profile

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).