Pinnacle West Asset Management Inc. Increases Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Pinnacle West Asset Management Inc. increased its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,100 shares of the technology company’s stock after acquiring an additional 60 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Check Point Software Technologies were worth $205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in Check Point Software Technologies during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 60 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth $35,000. Strategic Financial Concepts LLC acquired a new stake in shares of Check Point Software Technologies during the fourth quarter worth $35,000. Finally, Concord Wealth Partners acquired a new position in Check Point Software Technologies in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CHKP has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Check Point Software Technologies from $183.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup lifted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler increased their target price on Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. The Goldman Sachs Group cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their price target for the company from $204.00 to $207.00 in a report on Thursday, January 2nd. Finally, UBS Group upped their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Twenty equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $216.95.

Check Point Software Technologies Stock Up 1.6 %

NASDAQ CHKP opened at $218.63 on Wednesday. The stock has a market cap of $24.05 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $226.02. The business has a fifty day moving average of $199.35 and a 200-day moving average of $192.67.

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.