Check Point Software Technologies Ltd. (CHKP) Shares Gap Down on Analyst Downgrade

Check Point Software Technologies Ltd. (NASDAQ:CHKP) gapped down before the market opened on Thursday after Barclays PLC lowered their price target on the stock from $110.00 to $106.00. The stock had previously closed at ($107.00), but opened at $0.00. Barclays PLC currently has an equal weight rating on the stock. Check Point Software Technologies shares last traded at $0.00, with a volume of 8439084 shares.

Several other research firms have also recently issued reports on CHKP. Robert W. Baird reissued a “hold” rating and set a $115.00 price target on shares of Check Point Software Technologies in a report on Wednesday. KeyCorp reissued a “hold” rating on shares of Check Point Software Technologies in a report on Friday, October 27th. BidaskClub cut shares of Check Point Software Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Piper Jaffray Companies set a $108.00 price target on shares of Check Point Software Technologies and gave the stock a “hold” rating in a report on Friday, August 25th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $105.00 price target on shares of Check Point Software Technologies in a report on Wednesday, October 18th. Twenty investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $113.60.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Check Point Software Technologies by 1.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,425 shares of the technology company’s stock valued at $151,000 after purchasing an additional 20 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Check Point Software Technologies by 1.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 2,407 shares of the technology company’s stock valued at $263,000 after acquiring an additional 31 shares during the period. Baldwin Investment Management LLC raised its stake in shares of Check Point Software Technologies by 0.7% in the 2nd quarter. Baldwin Investment Management LLC now owns 4,665 shares of the technology company’s stock valued at $509,000 after acquiring an additional 34 shares during the period. Trust Co. of Vermont raised its stake in shares of Check Point Software Technologies by 2.2% in the 2nd quarter. Trust Co. of Vermont now owns 1,814 shares of the technology company’s stock valued at $198,000 after acquiring an additional 39 shares during the period. Finally, Wetherby Asset Management Inc. raised its stake in shares of Check Point Software Technologies by 0.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 5,314 shares of the technology company’s stock valued at $580,000 after acquiring an additional 41 shares during the period. Institutional investors own 68.07% of the company’s stock.

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Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. (Check point) develops, markets and supports a range of products and services for information technology (IT) security. The Company’s products and services are sold to enterprises, service providers, small and medium sized businesses and consumers. It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

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