Short Interest in Check Point Software Technologies Ltd. (NASDAQ:CHKP) Increases By 6.9%

Check Point Software Technologies Ltd. (NASDAQ:CHKP) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,430,000 shares, an increase of 6.9% from the January 15th total of 3,210,000 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 740,200 shares, the days-to-cover ratio is presently 4.6 days.

Institutional Investors Weigh In On Check Point Software Technologies

Several institutional investors and hedge funds have recently made changes to their positions in CHKP. Vise Technologies Inc. increased its stake in shares of Check Point Software Technologies by 62.4% during the 4th quarter. Vise Technologies Inc. now owns 2,251 shares of the technology company’s stock valued at $420,000 after acquiring an additional 865 shares during the last quarter. Glen Eagle Advisors LLC grew its position in Check Point Software Technologies by 3.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 14,159 shares of the technology company’s stock valued at $2,643,000 after acquiring an additional 418 shares in the last quarter. USS Investment Management Ltd grew its position in Check Point Software Technologies by 9.7% in the fourth quarter. USS Investment Management Ltd now owns 16,720 shares of the technology company’s stock valued at $3,124,000 after acquiring an additional 1,472 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Check Point Software Technologies by 21.9% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 50,029 shares of the technology company’s stock valued at $9,340,000 after buying an additional 8,994 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Check Point Software Technologies during the 4th quarter valued at approximately $15,163,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 0.7 %

Shares of NASDAQ:CHKP traded down $1.63 on Tuesday, reaching $220.46. 976,741 shares of the company were exchanged, compared to its average volume of 900,808. 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 $24.25 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 3.31 and a beta of 0.65. The company has a 50-day moving average of $195.70 and a 200-day moving average of $190.96.

Analyst Upgrades and Downgrades

CHKP has been the topic of a number of recent research reports. Barclays upped their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Bank of America downgraded shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $205.00 to $195.00 in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price target on shares of Check Point Software Technologies in a research report on Monday, January 27th. Piper Sandler increased their price target on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Nineteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.