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

Check Point Software Technologies Ltd. (NASDAQ:CHKP) saw a significant growth in short interest during 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. Based on an average daily volume of 736,700 shares, the short-interest ratio is presently 4.4 days. Currently, 3.8% of the company’s stock are sold short.

Check Point Software Technologies Trading Down 1.9 %

Shares of NASDAQ:CHKP opened at $213.87 on Tuesday. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02. The company has a market capitalization of $23.52 billion, a PE ratio of 28.63, a PEG ratio of 3.41 and a beta of 0.63. The business has a 50 day moving average of $188.67 and a two-hundred day moving average of $187.97.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Ativo Capital Management LLC raised its stake in shares of Check Point Software Technologies by 2.8% during the 4th quarter. Ativo Capital Management LLC now owns 59,531 shares of the technology company’s stock worth $11,114,000 after buying an additional 1,601 shares during the period. Paradigm Asset Management Co. LLC acquired a new position in Check Point Software Technologies in the 4th quarter valued at $859,000. Cassaday & Co Wealth Management LLC purchased a new stake in Check Point Software Technologies in the 4th quarter valued at $369,000. Arcadia Investment Management Corp MI purchased a new stake in Check Point Software Technologies in the 4th quarter valued at $93,000. Finally, Suncoast Equity Management grew its holdings in Check Point Software Technologies by 6.8% in the 4th quarter. Suncoast Equity Management now owns 5,770 shares of the technology company’s stock valued at $1,077,000 after buying an additional 365 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BMO Capital Markets lifted their target price on Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a research note on Monday. Jefferies Financial Group lifted their target price on Check Point Software Technologies from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wedbush boosted their price target 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. Guggenheim restated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday. Finally, Citigroup boosted their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Nineteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $215.59.

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.