Check Point Software Technologies Ltd. (NASDAQ:CHKP) Short Interest Up 8.3% in January

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

Wall Street Analyst Weigh In

CHKP has been the topic of a number of recent research reports. BMO Capital Markets increased their target price on Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a research note on Monday. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price objective on shares of Check Point Software Technologies in a report on Monday, January 27th. Truist Financial reaffirmed a “buy” rating and set a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a report on Friday. Evercore ISI increased their price target on Check Point Software Technologies from $180.00 to $185.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Wedbush raised their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Nineteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $215.59.

Hedge Funds Weigh In On Check Point Software Technologies

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new position in shares of Check Point Software Technologies in the second quarter worth approximately $2,079,000. Millennium Management LLC raised its holdings in Check Point Software Technologies by 20.6% during the 2nd quarter. Millennium Management LLC now owns 44,101 shares of the technology company’s stock worth $7,277,000 after purchasing an additional 7,523 shares during the last quarter. Creative Planning lifted its position in shares of Check Point Software Technologies by 12.9% in the 2nd quarter. Creative Planning now owns 18,510 shares of the technology company’s stock worth $3,054,000 after purchasing an additional 2,122 shares during the period. NewEdge Advisors LLC increased its position in shares of Check Point Software Technologies by 145.8% during the second quarter. NewEdge Advisors LLC now owns 12,832 shares of the technology company’s stock worth $2,117,000 after buying an additional 7,611 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Check Point Software Technologies during the second quarter worth $250,000. Institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $213.87 on Tuesday. Check Point Software Technologies has a 1 year low of $145.75 and a 1 year high of $226.02. The firm has a market cap of $23.52 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 3.41 and a beta of 0.63. The company has a 50 day simple moving average of $188.67 and a 200 day simple moving average of $187.97.

About Check Point Software Technologies

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.