Check Point Software Technologies Ltd. (NASDAQ:CHKP) Sees Large Growth in Short Interest

Check Point Software Technologies Ltd. (NASDAQ:CHKP) saw a large 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 shares of the company are short sold. Based on an average trading volume of 736,700 shares, the short-interest ratio is presently 4.4 days.

Check Point Software Technologies Trading Down 1.9 %

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

Institutional Trading of Check Point Software Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the third quarter valued at about $27,000. GAMMA Investing LLC raised its holdings in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of Check Point Software Technologies in the third quarter valued at about $33,000. Golden State Wealth Management LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. 98.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CHKP shares. Bank of America cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Scotiabank raised their target price on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research note on Friday. Susquehanna raised their target price on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday. Barclays raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, UBS Group raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday. Nineteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Check Point Software Technologies currently has an average rating of “Hold” and a consensus target price of $215.59.

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.