Allianz Asset Management GmbH Sells 15,805 Shares of Check Point Software Technologies Ltd. $CHKP

Allianz Asset Management GmbH cut its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 37.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,663 shares of the technology company’s stock after selling 15,805 shares during the quarter. Allianz Asset Management GmbH’s holdings in Check Point Software Technologies were worth $5,517,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CHKP. Legacy Investment Solutions LLC acquired a new position in shares of Check Point Software Technologies in the second quarter valued at approximately $25,000. Louisbourg Investments Inc. bought a new stake in Check Point Software Technologies in the 3rd quarter valued at $29,000. First Horizon Corp acquired a new position in Check Point Software Technologies in the 3rd quarter worth $38,000. AlphaCore Capital LLC bought a new position in Check Point Software Technologies during the 2nd quarter worth about $43,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Check Point Software Technologies in the 3rd quarter valued at about $42,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Stock Performance

Check Point Software Technologies stock opened at $180.57 on Wednesday. The stock has a 50-day simple moving average of $186.02 and a 200 day simple moving average of $191.26. The stock has a market capitalization of $19.86 billion, a P/E ratio of 19.78, a PEG ratio of 2.93 and a beta of 0.58. Check Point Software Technologies Ltd. has a 52 week low of $170.49 and a 52 week high of $234.35.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CHKP shares. Citigroup reduced their price objective on Check Point Software Technologies from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Mizuho set a $225.00 price target on Check Point Software Technologies in a research report on Wednesday, October 29th. Piper Sandler lowered their price objective on shares of Check Point Software Technologies from $260.00 to $240.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. UBS Group boosted their price objective on shares of Check Point Software Technologies from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada decreased their target price on shares of Check Point Software Technologies from $215.00 to $195.00 and set a “sector perform” rating for the company in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.62.

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).