Dorsey Wright & Associates Takes $2.17 Million Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Dorsey Wright & Associates bought a new position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,608 shares of the technology company’s stock, valued at approximately $2,167,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the 3rd quarter worth $27,000. GAMMA Investing LLC increased its stake in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth about $35,000. Strategic Financial Concepts LLC acquired a new position in shares of Check Point Software Technologies in the 4th quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Check Point Software Technologies by 142.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after purchasing an additional 137 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHKP has been the topic of a number of recent research reports. Wells Fargo & Company raised shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $200.00 to $280.00 in a research report on Friday, March 14th. Baird R W upgraded shares of Check Point Software Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 27th. Susquehanna increased their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a report on Friday, January 31st. Robert W. Baird upgraded Check Point Software Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $235.00 to $255.00 in a research note on Thursday, February 27th. Finally, Citigroup increased their target price on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $234.18.

Check Point Software Technologies Stock Down 1.3 %

NASDAQ:CHKP opened at $228.37 on Friday. The company has a market cap of $25.12 billion, a PE ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 0.62. The business’s 50 day moving average is $217.58 and its two-hundred day moving average is $198.54. Check Point Software Technologies Ltd. has a 52 week low of $145.75 and a 52 week high of $234.36.

Check Point Software Technologies 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.