Forge First Asset Management Inc. Purchases 5,800 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Forge First Asset Management Inc. boosted its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,004 shares of the technology company’s stock after purchasing an additional 5,800 shares during the quarter. Check Point Software Technologies comprises approximately 1.9% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 18th biggest position. Forge First Asset Management Inc.’s holdings in Check Point Software Technologies were worth $5,418,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in Check Point Software Technologies in the third quarter valued at approximately $27,000. GAMMA Investing LLC grew its stake in shares of Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares during the period. Golden State Wealth Management LLC bought a new position in Check Point Software Technologies in the 4th quarter worth about $35,000. Strategic Financial Concepts LLC bought a new position in Check Point Software Technologies in the 4th quarter worth about $35,000. Finally, Exchange Traded Concepts LLC boosted its stake in Check Point Software Technologies by 142.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CHKP shares. StockNews.com raised Check Point Software Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Susquehanna lifted their price target on Check Point Software Technologies from $215.00 to $255.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Barclays lifted their price target on 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. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $220.00 to $260.00 in a research report on Monday, March 3rd. Finally, BMO Capital Markets lifted their price target on Check Point Software Technologies from $215.00 to $245.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Seventeen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus price target of $224.86.

Check Point Software Technologies Stock Performance

CHKP stock opened at $222.39 on Wednesday. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $230.65. The company has a 50 day moving average price of $206.28 and a two-hundred day moving average price of $195.20. The stock has a market capitalization of $24.46 billion, a P/E ratio of 29.77, a PEG ratio of 3.41 and a beta of 0.62.

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.