Check Point Software Technologies Ltd. (NASDAQ:CHKP) Short Interest Update

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,270,000 shares, an increase of 8.3% from the December 31st total of 3,020,000 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average trading volume of 736,700 shares, the short-interest ratio is currently 4.4 days.

Check Point Software Technologies Stock Down 1.9 %

NASDAQ:CHKP opened at $213.87 on Tuesday. The stock’s 50 day moving average price is $188.67 and its two-hundred day moving average price is $187.97. The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 3.41 and a beta of 0.65. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02.

Institutional Trading of Check Point Software Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ativo Capital Management LLC raised its stake in Check Point Software Technologies by 2.8% in the fourth quarter. Ativo Capital Management LLC now owns 59,531 shares of the technology company’s stock valued at $11,114,000 after buying an additional 1,601 shares during the period. Paradigm Asset Management Co. LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $859,000. Cassaday & Co Wealth Management LLC bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $369,000. Arcadia Investment Management Corp MI bought a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $93,000. Finally, Suncoast Equity Management raised its stake in Check Point Software Technologies by 6.8% in the fourth quarter. Suncoast Equity Management now owns 5,770 shares of the technology company’s stock valued at $1,077,000 after buying an additional 365 shares during the period. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

CHKP has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on Check Point Software Technologies from $180.00 to $185.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Piper Sandler boosted their target price on Check Point Software Technologies from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Jefferies Financial Group boosted their target price on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Truist Financial reissued a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research note on Friday. Finally, Bank of America cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $205.00 to $195.00 in a research note on Wednesday, October 30th. Nineteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $215.59.

Check Point Software Technologies Company 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.