MFS Trims Check Point Software Stake to 4.6%

TL;DR

**MFS cut its stake in Check Point Software to 4.6%, signaling a potential bearish shift.**

AI Summary

Massachusetts Financial Services Company (MFS) filed an amended SC 13G/A on February 9, 2024, disclosing its ownership in Check Point Software Technologies Ltd. As of December 29, 2023, MFS beneficially owned 5,482,472 shares of common stock, representing 4.6% of the company's outstanding shares. This is a decrease from their previous filing, indicating MFS has reduced its stake, which could signal a shift in their investment outlook for Check Point Software.

Why It Matters

A major institutional investor like MFS reducing its stake could suggest a less bullish outlook on Check Point Software's future performance, potentially influencing other investors' decisions.

Risk Assessment

Risk Level: medium — A significant institutional investor reducing its holdings can sometimes precede a decline in stock price, posing a moderate risk to current shareholders.

Analyst Insight

A smart investor would investigate the reasons behind MFS's reduction in stake and consider if this signals a broader negative outlook for Check Point Software before making any investment decisions.

Key Numbers

• 5,482,472 — Shares Beneficially Owned (This is the total number of Check Point Software shares MFS controls, indicating their reduced exposure.)
• 4.6% — Percentage of Class (This percentage reflects MFS's current ownership stake, a decrease from previous filings.)
• 5,162,507 — Sole Voting Power (This shows the number of shares MFS can vote independently.)

Key Players & Entities

• Massachusetts Financial Services Company (company) — the reporting person, an institutional investor
• Check Point Software Technologies Ltd (company) — the subject company, whose shares are being reported
• 5,482,472 (dollar_amount) — number of shares beneficially owned by MFS
• 4.6% (dollar_amount) — percentage of Check Point Software's common stock owned by MFS
• December 29, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Check Point Software's stock price may experience downward pressure due to MFS reducing its stake. (Check Point Software Technologies Ltd) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Check Point Software following MFS's reduced ownership. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 15KB
• 0000912938-24-000238.txt ( ) — 17KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 7 ) * CHECK POINT SOFTWARE TECHNOLOGIES LTD (Name of Issuer) Common Stock (Title of Class of Securities) M22465104 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. M22465104 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Massachusetts Financial Services Company ("MFS") 04-2747644 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] Not Applicable 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 5,162,507 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 5,482,472 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,482,472 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES Not Applicable 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.5% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer CHECK POINT SOFTWARE TECHNOLOGIES LTD (b) Address of Issuer's Principal Executive Offices 5 Shlomo Kaplan Street, Tel Aviv 6789159, Israel Item 2. (a) Name of Person Filing Massachusetts Financial Services Company (b) Address of Principal Business Office or, if None, Residence 111 Huntington Avenue, Boston, MA 02199 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number M22465104 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 5,482,472 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities (b) Percent of Class: 4.5% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 5,162,507 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 5,482,472 (iv) shared power to dispose or to direct the disposition of 0 Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: [ X ] Item 6. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not Applicable Item 8. Identification and Classification of Members of the Group. Not Applicable Item 9. Notice of Dissolution of Group. Not Applicable Item 10. Certification. By signing below, I certify that, to the best of my knowledge and belief, the securities r

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