MIG Capital LLC Takes Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

MIG Capital LLC purchased a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,796 shares of the technology company’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also modified their holdings of CHKP. Truist Financial Corp increased its position in Check Point Software Technologies by 2.6% in the 4th quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after purchasing an additional 3,080 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after buying an additional 2,478 shares during the last quarter. MML Investors Services LLC raised its position in Check Point Software Technologies by 3.7% during the third quarter. MML Investors Services LLC now owns 103,507 shares of the technology company’s stock valued at $19,957,000 after acquiring an additional 3,655 shares in the last quarter. Hickory Asset Management Inc. acquired a new stake in Check Point Software Technologies in the fourth quarter valued at approximately $476,000. Finally, Assetmark Inc. grew its position in Check Point Software Technologies by 44.1% in the fourth quarter. Assetmark Inc. now owns 140,943 shares of the technology company’s stock worth $26,314,000 after acquiring an additional 43,165 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a report on Friday, January 31st. StockNews.com lowered Check Point Software Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Compass Point set a $260.00 price target on Check Point Software Technologies in a research note on Thursday, March 27th. Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a research note on Thursday, February 27th. Finally, Piper Sandler raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.13.

Check Point Software Technologies Stock Performance

Shares of CHKP stock opened at $215.52 on Friday. The firm has a fifty day moving average of $220.78 and a 200-day moving average of $199.70. The stock has a market cap of $23.70 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 3.41 and a beta of 0.62. 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.